First Trust Advisors LP Acquires 3,902 Shares of City Holding (NASDAQ:CHCO)

First Trust Advisors LP boosted its position in City Holding (NASDAQ:CHCO - Free Report) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 53,225 shares of the bank's stock after purchasing an additional 3,902 shares during the period. First Trust Advisors LP owned about 0.36% of City worth $6,306,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its position in shares of City by 3.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,229 shares of the bank's stock worth $1,682,000 after buying an additional 454 shares during the last quarter. Jump Financial LLC acquired a new position in shares of City during the 4th quarter valued at $404,000. Guggenheim Capital LLC grew its stake in City by 1.3% in the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank's stock valued at $1,047,000 after acquiring an additional 114 shares during the period. XTX Topco Ltd bought a new position in City in the 4th quarter valued at about $423,000. Finally, Barclays PLC boosted its holdings in City by 1.3% during the 4th quarter. Barclays PLC now owns 29,226 shares of the bank's stock worth $3,464,000 after acquiring an additional 381 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

Insider Transactions at City

In related news, CFO David L. Bumgarner sold 441 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $118.00, for a total value of $52,038.00. Following the completion of the sale, the chief financial officer now owns 10,195 shares in the company, valued at $1,203,010. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the transaction, the director now directly owns 1,014 shares in the company, valued at approximately $122,187. This represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,569 shares of company stock valued at $420,070 in the last quarter. Insiders own 1.87% of the company's stock.

City Stock Performance

CHCO traded down $1.10 on Tuesday, hitting $116.78. The company's stock had a trading volume of 4,484 shares, compared to its average volume of 68,314. City Holding has a 12 month low of $99.63 and a 12 month high of $137.28. The company's 50 day simple moving average is $115.68 and its 200-day simple moving average is $120.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.72 billion, a P/E ratio of 14.80 and a beta of 0.52.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $73.28 million. Analysts forecast that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.71%. City's dividend payout ratio is presently 39.60%.

Analyst Upgrades and Downgrades

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

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.