11,351 Shares in City Holding Company $CHCO Bought by Virtu Financial LLC

Key Points

• Virtu Financial LLC disclosed a new position in City Holding Company, buying 11,351 shares worth about $1.35 million in the fourth quarter. Hedge funds and other institutional investors now own a large majority of the stock, at about 72.43%.
• Several insiders recently sold shares, including CFO David L. Bumgarner and CEO Charles R. Hageboeck. Over the last quarter, insiders sold more shares than they bought, though corporate insiders still hold 1.75% of the company.
• City reported solid earnings of $2.20 per share, topping estimates, and its board authorized a 1,000,000-share buyback. The company also announced a quarterly dividend of $0.87 per share, implying a 2.7% annual yield.

Virtu Financial LLC acquired a new position in shares of City Holding Company (NASDAQ:CHCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,351 shares of the bank's stock, valued at approximately $1,353,000. Virtu Financial LLC owned about 0.08% of City as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of City during the fourth quarter worth about $202,000. XTX Topco Ltd purchased a new position in shares of City during the fourth quarter worth about $712,000. Zacks Investment Management increased its position in City by 3.6% in the 4th quarter. Zacks Investment Management now owns 24,584 shares of the bank's stock valued at $2,930,000 after acquiring an additional 844 shares during the period. Numerai GP LLC acquired a new position in City in the 4th quarter valued at about $754,000. Finally, Inspire Investing LLC increased its position in City by 5.0% in the 4th quarter. Inspire Investing LLC now owns 3,843 shares of the bank's stock valued at $458,000 after acquiring an additional 182 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the transaction, the chief financial officer directly owned 10,666 shares of the company's stock, valued at approximately $1,327,917. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 1,858 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $124.40, for a total value of $231,135.20. Following the completion of the sale, the chief executive officer directly owned 48,483 shares of the company's stock, valued at $6,031,285.20. This represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 455 shares of company stock worth $57,018 and sold 12,975 shares worth $1,622,853. 1.75% of the stock is owned by corporate insiders.

City Price Performance

Shares of City stock opened at $127.12 on Friday. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The company has a market cap of $1.79 billion, a P/E ratio of 14.00 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a fifty day moving average of $125.13 and a two-hundred day moving average of $123.41.

City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. On average, analysts forecast that City Holding Company will post 8.99 earnings per share for the current year.

City declared that its board has initiated a stock buyback program on Wednesday, March 25th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.87 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. City's dividend payout ratio (DPR) is presently 38.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CHCO shares. Hovde Group increased their price objective on City from $133.00 to $135.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a "buy (b)" rating on shares of City in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $134.25.

City Profile

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

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