Balyasny Asset Management L.P. Has $952,000 Stock Holdings in City Holding (NASDAQ:CHCO)

Balyasny Asset Management L.P. trimmed its stake in shares of City Holding (NASDAQ:CHCO - Free Report) by 28.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,035 shares of the bank's stock after selling 3,141 shares during the quarter. Balyasny Asset Management L.P. owned about 0.05% of City worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock worth $50,000 after buying an additional 375 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock worth $56,000 after buying an additional 405 shares in the last quarter. KBC Group NV raised its position in shares of City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank's stock worth $100,000 after buying an additional 317 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of City by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock worth $162,000 after buying an additional 131 shares in the last quarter. Finally, Longboard Asset Management LP bought a new stake in shares of City during the 4th quarter worth about $211,000. 72.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the company's stock in a transaction on Thursday, May 1st. The shares were 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 in the company, valued at $328,902.60. This represents a 33.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Parsons bought 2,200 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $122.38 per share, with a total value of $269,236.00. Following the completion of the purchase, the director now owns 2,700 shares in the company, valued at approximately $330,426. The trade was a 440.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 3,069 shares of company stock valued at $359,820 over the last ninety days. Corporate insiders own 1.87% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price 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.

City Price Performance

Shares of NASDAQ CHCO traded down $0.65 during midday trading on Tuesday, reaching $122.11. The company's stock had a trading volume of 2,518 shares, compared to its average volume of 59,257. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $116.50 and a 200 day moving average price of $120.31. City Holding has a one year low of $99.63 and a one year high of $137.28. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 15.46 and a beta of 0.52.

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

City Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a $0.79 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 annualized dividend and a yield of 2.59%. City's dividend payout ratio is presently 39.60%.

City Company 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.