Northern Trust Corp Acquires 3,944 Shares of City Holding (NASDAQ:CHCO)

Northern Trust Corp lifted its stake in shares of City Holding (NASDAQ:CHCO - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 178,962 shares of the bank's stock after acquiring an additional 3,944 shares during the period. Northern Trust Corp owned approximately 1.22% of City worth $21,203,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CHCO. JPMorgan Chase & Co. raised its position in City by 24.2% in 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 period. Norges Bank purchased a new position in City in the 4th quarter worth $5,203,000. Tudor Investment Corp ET AL raised its position in City by 117.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 42,159 shares of the bank's stock worth $4,995,000 after purchasing an additional 22,741 shares during the period. Charles Schwab Investment Management Inc. raised its position in City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after purchasing an additional 22,226 shares during the period. Finally, Barclays PLC raised its position in City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank's stock worth $3,385,000 after purchasing an additional 16,044 shares during the period. Hedge funds and other institutional investors own 72.43% of the company's stock.

Wall Street Analysts Forecast Growth

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

City Trading Down 0.5%

Shares of CHCO stock traded down $0.62 during mid-day trading on Friday, reaching $122.80. The stock had a trading volume of 44,275 shares, compared to its average volume of 59,601. The stock's 50-day moving average price is $116.33 and its two-hundred day moving average price is $120.27. City Holding has a 52-week low of $99.63 and a 52-week high of $137.28. The firm has a market capitalization of $1.78 billion, a PE ratio of 15.56 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $74.55 million for the quarter, compared to analysts' expectations of $73.28 million. Equities analysts expect that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.57%. City's dividend payout ratio is presently 39.60%.

Insider Buying and Selling

In other City news, CFO David L. Bumgarner sold 1,058 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total value of $124,844.00. Following the sale, the chief financial officer now owns 10,636 shares in the company, valued at approximately $1,255,048. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James M. Parsons acquired 2,200 shares of the business's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $122.38 per share, for a total transaction of $269,236.00. Following the acquisition, the director now owns 2,700 shares of the company's stock, valued at approximately $330,426. This trade represents a 440.00% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 3,069 shares of company stock valued at $359,820 over the last ninety days. Company insiders own 1.87% of the company's stock.

About City

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.