Dimensional Fund Advisors LP lowered its position in City Holding (NASDAQ:CHCO - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 530,994 shares of the bank's stock after selling 7,608 shares during the period. Dimensional Fund Advisors LP owned approximately 3.61% of City worth $62,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of City by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after buying an additional 22,226 shares during the period. JPMorgan Chase & Co. boosted its stake in City by 24.2% during the 4th quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock worth $31,071,000 after purchasing an additional 51,055 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of City by 0.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock valued at $12,964,000 after purchasing an additional 885 shares during the last quarter. American Century Companies Inc. boosted its holdings in City by 3.2% in the 4th quarter. American Century Companies Inc. now owns 92,244 shares of the bank's stock valued at $10,929,000 after purchasing an additional 2,903 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in City by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank's stock valued at $9,243,000 after buying an additional 2,726 shares during the last quarter. Institutional investors own 72.43% of the company's stock.
City Stock Performance
NASDAQ:CHCO traded up $0.28 during mid-day trading on Wednesday, reaching $116.73. The stock had a trading volume of 48,259 shares, compared to its average volume of 59,747. 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 twelve month low of $99.63 and a twelve month high of $137.28. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 14.79 and a beta of 0.52. The business has a 50 day simple moving average of $115.61 and a 200 day simple moving average of $120.01.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.22. City had a return on equity of 16.49% and a net margin of 30.83%. The business had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. On average, analysts expect that City Holding will post 7.58 earnings per share for the current fiscal year.
City Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Tuesday, April 15th. City's dividend payout ratio (DPR) is 39.60%.
Analysts Set New Price Targets
Separately, Piper Sandler lowered their price target on shares of City from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Friday, January 24th.
View Our Latest Stock Analysis on City
Insider Activity
In other news, CFO David L. Bumgarner sold 1,058 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total value of $124,844.00. Following the completion of the sale, the chief financial officer now owns 10,636 shares of the company's stock, valued at $1,255,048. This trade represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction that occurred on 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 sale, the director now owns 1,014 shares of the company's stock, valued at approximately $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,569 shares of company stock worth $420,070. 1.87% of the stock is currently owned by insiders.
About City
(
Free Report)
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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