GSA Capital Partners LLP Invests $997,000 in City Holding Company (NASDAQ:CHCO)

Key Points

• GSA Capital Partners LLP has acquired 8,485 shares of City Holding Company (NASDAQ:CHCO), valued at approximately $997,000, increasing its ownership to about 0.06% of the company.
• City Holding Company reported a quarterly EPS of $2.29, surpassing estimates, and had a revenue of $78.16 million for the quarter.
• The company recently announced a quarterly dividend of $0.79 per share, yielding 2.6%, with a payout ratio of 38.03%.

GSA Capital Partners LLP acquired a new position in shares of City Holding Company (NASDAQ:CHCO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,485 shares of the bank's stock, valued at approximately $997,000. GSA Capital Partners LLP owned about 0.06% of City as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in City by 43.9% during the 1st quarter. CWM LLC now owns 282 shares of the bank's stock worth $33,000 after acquiring an additional 86 shares during the last quarter. Guggenheim Capital LLC lifted its position in City by 1.3% in the 4th 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 in the last quarter. Bessemer Group Inc. boosted its holdings in City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of City by 10.8% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank's stock valued at $170,000 after acquiring an additional 140 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of City by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,247 shares of the bank's stock worth $977,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 72.43% of the company's stock.

Insider Buying and Selling

In other City news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $131.12, for a total value of $131,120.00. Following the sale, the executive vice president owned 1,830 shares of the company's stock, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total value of $327,650.00. Following the completion of the transaction, the executive vice president owned 7,037 shares of the company's stock, valued at $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 2,625 shares of company stock valued at $321,993 over the last 90 days. 1.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of City from $125.00 to $135.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded City from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson upped their price objective on City from $128.00 to $137.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Hovde Group boosted their target price on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, City has an average rating of "Hold" and an average price target of $133.25.

City Stock Performance

Shares of City stock traded up $0.01 on Monday, hitting $120.77. The stock had a trading volume of 26,012 shares, compared to its average volume of 82,798. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The business's 50 day moving average is $122.17 and its two-hundred day moving average is $119.01. The company has a quick ratio of 0.83, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 14.53 and a beta of 0.56.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.97 by $0.32. City had a return on equity of 16.30% and a net margin of 31.35%. The company had revenue of $78.16 million for the quarter, compared to the consensus estimate of $76.10 million. Analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. City's dividend payout ratio is currently 38.03%.

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.