Barr E S & Co. Decreases Stake in City Holding (NASDAQ:CHCO)

Barr E S & Co. lessened its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,700 shares of the bank's stock after selling 8,180 shares during the period. City comprises 0.9% of Barr E S & Co.'s holdings, making the stock its 26th largest position. Barr E S & Co. owned approximately 0.89% of City worth $15,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CHCO. Charles Schwab Investment Management Inc. lifted its position in shares of City by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock valued at $65,253,000 after acquiring an additional 22,226 shares during the period. Geode Capital Management LLC increased its holdings in City by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank's stock valued at $41,792,000 after buying an additional 1,065 shares during the period. JPMorgan Chase & Co. raised its position in shares of City by 24.2% in the 4th quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock valued at $31,071,000 after buying an additional 51,055 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of City by 0.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock worth $12,964,000 after acquiring an additional 885 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of City by 3.2% during the 4th quarter. American Century Companies Inc. now owns 92,244 shares of the bank's stock worth $10,929,000 after acquiring an additional 2,903 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other City news, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the transaction, the director now owns 1,014 shares in the company, valued at approximately $122,187. The trade was a 33.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David L. Bumgarner sold 556 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the sale, the chief financial officer now directly owns 9,395 shares of the company's stock, valued at $1,127,400. This represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,226 shares of company stock worth $147,200. Corporate insiders own 1.87% of the company's stock.

Wall Street Analyst Weigh In

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

City Trading Up 0.6 %

Shares of NASDAQ CHCO traded up $0.64 during trading on Friday, reaching $113.74. The company had a trading volume of 68,988 shares, compared to its average volume of 59,809. The company's fifty day moving average price is $116.23 and its 200-day moving average price is $120.05. City Holding has a 12 month low of $98.22 and a 12 month high of $137.28. The stock has a market cap of $1.67 billion, a P/E ratio of 14.42 and a beta of 0.48. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO - Get Free Report) last released its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, research analysts expect that City Holding will post 7.58 earnings per share for the current year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.78%. City's dividend payout ratio (DPR) is presently 40.05%.

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.