Bridgeway Capital Management LLC Has $4.71 Million Stock Position in City Holding Company $CHCO

Key Points

• Bridgeway Capital Management LLC reduced its stake in City Holding Company ($CHCO) by 11.1% during the first quarter, holding a total of 40,050 shares valued at $4.71 million.
• City Holding Company reported $2.29 earnings per share for the last quarter, exceeding analysts' expectations of $1.97, with revenue reaching $78.16 million.
• Analysts have mixed ratings on City Holding Company, with target prices ranging from $128 to $137 and an average consensus rating of "Hold".

Bridgeway Capital Management LLC lowered its stake in City Holding Company (NASDAQ:CHCO - Free Report) by 11.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,050 shares of the bank's stock after selling 5,000 shares during the period. Bridgeway Capital Management LLC owned 0.28% of City worth $4,705,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CHCO. Bessemer Group Inc. boosted its position in City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after buying an additional 115 shares in the last quarter. CWM LLC boosted its position in City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank's stock valued at $33,000 after buying an additional 86 shares in the last quarter. First United Bank & Trust acquired a new stake in City in the first quarter valued at approximately $78,000. Point72 Asia Singapore Pte. Ltd. boosted its position in 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 buying an additional 140 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in City by 31.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the bank's stock valued at $212,000 after buying an additional 436 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

City Price Performance

CHCO stock opened at $130.15 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 15.66 and a beta of 0.57. The company's fifty day simple moving average is $125.45 and its 200 day simple moving average is $120.01. City Holding Company has a 12-month low of $102.22 and a 12-month high of $137.28.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.32. City had a return on equity of 16.30% and a net margin of 31.35%.The firm had revenue of $78.16 million during the quarter, compared to the consensus estimate of $76.10 million. On average, analysts expect that City Holding Company will post 7.58 earnings per share for the current year.

Insider Transactions at City

In other City news, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.06, for a total transaction of $327,650.00. Following the completion of the sale, the executive vice president directly owned 7,037 shares in the company, valued at approximately $922,269.22. This trade represents a 26.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction dated 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. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 305 shares of company stock valued at $38,750. Company insiders own 1.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. DA Davidson raised their target price on shares of City from $128.00 to $137.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of City from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Hovde Group boosted their price objective on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $133.25.

City Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.