Charles Schwab Investment Management Inc. Increases Holdings in City Holding Company $CHCO

Key Points

• Charles Schwab Investment Management Inc. increased its stake in City Holding Company by 5.3%, acquiring 29,302 additional shares, bringing its total holdings to approximately 580,057 shares valued at $68.14 million.
• City Holding Company reported a quarterly EPS of $2.29, exceeding estimates by $0.32, with a net margin of 31.35% and revenue of $78.16 million.
• The company recently declared a quarterly dividend of $0.79 per share, resulting in an annualized payout of $3.16 and a yield of 2.6%.

Charles Schwab Investment Management Inc. boosted its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 580,057 shares of the bank's stock after buying an additional 29,302 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.94% of City worth $68,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. grew its stake in shares of City by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock worth $74,192,000 after acquiring an additional 123,394 shares during the last quarter. Northern Trust Corp boosted its stake in City by 2.3% in the 4th quarter. Northern Trust Corp now owns 178,962 shares of the bank's stock worth $21,203,000 after purchasing an additional 3,944 shares in the last quarter. Principal Financial Group Inc. grew its position in City by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 80,645 shares of the bank's stock valued at $9,473,000 after purchasing an additional 2,635 shares during the last quarter. Invesco Ltd. increased its stake in City by 0.8% during the 4th quarter. Invesco Ltd. now owns 76,100 shares of the bank's stock valued at $9,016,000 after purchasing an additional 594 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in City by 7.9% during the 4th quarter. First Trust Advisors LP now owns 53,225 shares of the bank's stock valued at $6,306,000 after purchasing an additional 3,902 shares in the last quarter. Institutional investors own 72.43% of the company's stock.

Insider Transactions at City

In related news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total transaction of $131,120.00. Following the completion of the sale, the executive vice president directly owned 1,830 shares in the company, valued at approximately $239,949.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total transaction of $327,650.00. Following the sale, the executive vice president directly owned 7,037 shares of the company's stock, valued at approximately $922,269.22. This represents a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 305 shares of company stock valued at $38,750. Corporate insiders own 1.87% of the company's stock.

City Stock Performance

Shares of CHCO traded up $0.15 during mid-day trading on Tuesday, hitting $123.47. 28,059 shares of the company traded hands, compared to its average volume of 83,194. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 14.88 and a beta of 0.56. The stock has a 50-day moving average price of $122.92 and a two-hundred day moving average price of $119.22. City Holding Company has a 1 year low of $102.22 and a 1 year high of $137.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.81 and a current ratio of 0.81.

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

City Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 15th. City's dividend payout ratio (DPR) is presently 38.03%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CHCO. Hovde Group increased their price target on shares of City from $130.00 to $136.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. DA Davidson upped their price objective on 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 downgraded City from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price target on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, City 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.