Aquatic Capital Management LLC Acquires New Position in City Holding (NASDAQ:CHCO)

Aquatic Capital Management LLC bought a new position in City Holding (NASDAQ:CHCO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,497 shares of the bank's stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also made changes to their positions in CHCO. Guggenheim Capital LLC boosted its holdings in City by 1.3% in the 4th quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank's stock valued at $1,047,000 after purchasing an additional 114 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after acquiring an additional 131 shares during the last quarter. DAVENPORT & Co LLC grew its position in City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank's stock worth $524,000 after acquiring an additional 176 shares during the period. MetLife Investment Management LLC increased its stake in City by 3.7% during the fourth quarter. MetLife Investment Management LLC now owns 8,719 shares of the bank's stock worth $1,033,000 after acquiring an additional 310 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of City by 60.3% in the 4th quarter. KBC Group NV now owns 843 shares of the bank's stock valued at $100,000 after purchasing an additional 317 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective on shares of City from $135.00 to $125.00 and set a "neutral" rating on the stock in a report on Friday, January 24th.

Insider Activity

In related news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the transaction, the executive vice president now directly owns 2,830 shares of the company's stock, valued at $328,902.60. The trade was a 33.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the transaction, the director now directly owns 1,014 shares of the company's stock, valued at approximately $122,187. This represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,128 shares of company stock valued at $368,032. 1.87% of the stock is currently owned by company insiders.

City Stock Up 0.9 %

City stock opened at $117.46 on Friday. The company has a market capitalization of $1.73 billion, a PE ratio of 14.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a fifty-two week low of $99.63 and a fifty-two week high of $137.28. The firm has a 50 day moving average price of $115.67 and a 200 day moving average price of $120.07.

City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a return on equity of 16.49% and a net margin of 30.83%. The firm had revenue of $74.55 million for the quarter, compared to the consensus estimate of $73.28 million. Research analysts expect that City Holding will post 7.58 earnings per share for the current year.

City Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.79 per share. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.69%. City's dividend payout ratio is presently 39.60%.

City Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

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