BlackRock Inc. bought a new stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,037,326 shares of the bank's stock, valued at approximately $270,231,000. BlackRock Inc. owned about 14.44% of City at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of City by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 2,740 shares of the bank's stock worth $327,000 after purchasing an additional 81 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in City by 28.4% during the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank's stock worth $61,000 after buying an additional 110 shares in the last quarter. R Squared Ltd boosted its stake in City by 6.6% during the fourth quarter. R Squared Ltd now owns 2,135 shares of the bank's stock worth $254,000 after buying an additional 132 shares in the last quarter. Inspire Investing LLC increased its holdings 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 buying an additional 182 shares during the period. Finally, Franklin Resources Inc. increased its holdings in City by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,905 shares of the bank's stock valued at $1,227,000 after buying an additional 186 shares during the period. 72.43% of the stock is owned by institutional investors.
Insider Transactions at City
In other news, CEO Charles R. Hageboeck sold 4,485 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the sale, the chief executive officer directly owned 43,998 shares of the company's stock, valued at approximately $6,377,950.08. This represents a 9.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 444 shares of company stock worth $59,740 over the last 90 days. Corporate insiders own 1.75% of the company's stock.
City Stock Up 0.1%
Shares of NASDAQ CHCO opened at $144.68 on Thursday. City Holding Company has a 52-week low of $113.21 and a 52-week high of $148.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $2.03 billion, a P/E ratio of 15.83 and a beta of 0.48. The firm has a 50 day moving average price of $138.97 and a 200 day moving average price of $128.90.
City (NASDAQ:CHCO - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. City had a return on equity of 16.34% and a net margin of 32.58%.The firm had revenue of $81.52 million during the quarter, compared to analysts' expectations of $80.64 million. Analysts expect that City Holding Company will post 9.29 EPS for the current year.
Analyst Upgrades and Downgrades
CHCO has been the subject of several analyst reports. Hovde Group raised their target price on City from $135.00 to $143.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Weiss Ratings upgraded City from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $136.50.
Get Our Latest Stock Report on City
About City
(
Free Report)
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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