Alps Advisors Inc. acquired a new stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,060 shares of the bank's stock, valued at approximately $359,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHCO. Price T Rowe Associates Inc. MD lifted its stake in City by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank's stock valued at $1,481,000 after acquiring an additional 893 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in City by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank's stock valued at $1,408,000 after acquiring an additional 1,340 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in City by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank's stock valued at $546,000 after acquiring an additional 301 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after buying an additional 115 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of City by 18.4% in the first quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank's stock worth $525,000 after buying an additional 693 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at City
In related news, CFO David L. Bumgarner sold 1,058 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total value of $124,844.00. Following the completion of the transaction, the chief financial officer directly owned 10,636 shares of the company's stock, valued at approximately $1,255,048. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Parsons bought 2,200 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $122.38 per share, with a total value of $269,236.00. Following the completion of the purchase, the director directly owned 2,700 shares of the company's stock, valued at $330,426. This represents a 440.00% increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,899 shares of company stock valued at $339,590 in the last ninety days. 1.87% of the stock is currently owned by corporate insiders.
City Stock Performance
NASDAQ:CHCO traded down $0.36 during trading hours on Friday, hitting $124.98. 102,236 shares of the company traded hands, compared to its average volume of 68,338. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 15.66 and a beta of 0.54. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The firm has a 50-day moving average of $121.15 and a 200 day moving average of $118.38. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20.
City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a net margin of 30.62% and a return on equity of 16.15%. The firm had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. On average, analysts forecast that City Holding Company will post 7.58 EPS for the current year.
City Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.53%. City's payout ratio is 39.60%.
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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