Arrowstreet Capital Limited Partnership Buys 13,976 Shares of City Holding Company $CHCO

Key Points

• Arrowstreet Capital increased its City Holding stake by 40.2%, adding 13,976 shares to own 48,766 shares valued at approximately $5.8 million. Institutional investors collectively own 72.43% of the bank.
• City Holding reported quarterly EPS of $2.35, exceeding estimates of $2.23, while revenue of $81.52 million also topped expectations. Analysts maintain a consensus “Hold” rating with a $136.50 target price.
• The company paid a quarterly dividend of $0.87 per share, equivalent to an annualized $3.48 dividend and a 2.4% yield. Recent insider activity was mostly selling, including stock sales by the CEO and CFO.

Arrowstreet Capital Limited Partnership increased its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 40.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,766 shares of the bank's stock after acquiring an additional 13,976 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.35% of City worth $5,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Two Sigma Investments LP raised its holdings in City by 136.4% during the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank's stock valued at $15,335,000 after buying an additional 71,436 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock worth $9,543,000 after acquiring an additional 29,828 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of City in the second quarter valued at about $2,216,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of City in the fourth quarter valued at about $2,157,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of City by 64.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,622 shares of the bank's stock valued at $5,081,000 after acquiring an additional 16,644 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 4,485 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the completion of the transaction, the chief executive officer owned 43,998 shares of the company's stock, valued at approximately $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David L. Bumgarner sold 1,161 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer directly owned 10,666 shares of the company's stock, valued at $1,327,917. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have bought 544 shares of company stock valued at $71,900 and have sold 10,020 shares valued at $1,339,923. 1.75% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of City from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, July 16th. Hovde Group boosted their price target on City from $135.00 to $143.00 and gave the company a "market perform" rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, City has an average rating of "Hold" and a consensus target price of $136.50.

City Price Performance

Shares of NASDAQ CHCO opened at $145.11 on Monday. City Holding Company has a 1 year low of $113.21 and a 1 year high of $146.66. The stock has a market capitalization of $2.05 billion, a P/E ratio of 15.88 and a beta of 0.49. The company's 50-day moving average is $132.08 and its 200 day moving average is $126.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.38%. On average, sell-side analysts expect that City Holding Company will post 9.29 earnings per share for the current year.

City Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. City's payout ratio is currently 38.07%.

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.

Want to see what other hedge funds are holding CHCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for City Holding Company (NASDAQ:CHCO - Free Report).

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