City Holding Company $CHCO Stock Holdings Raised by City Holding Co.

City Holding Co. lifted its position in City Holding Company (NASDAQ:CHCO - Free Report) by 3.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 263,664 shares of the bank's stock after buying an additional 7,636 shares during the period. City makes up 4.2% of City Holding Co.'s holdings, making the stock its largest position. City Holding Co. owned about 1.82% of City worth $32,278,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in City by 5.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,606 shares of the bank's stock worth $1,053,000 after purchasing an additional 459 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in City by 1.5% in the second quarter. Public Employees Retirement System of Ohio now owns 21,694 shares of the bank's stock valued at $2,656,000 after buying an additional 324 shares during the period. GAMMA Investing LLC raised its holdings in shares of City by 69.0% during the second quarter. GAMMA Investing LLC now owns 546 shares of the bank's stock valued at $67,000 after purchasing an additional 223 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of City by 15.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,012 shares of the bank's stock valued at $1,677,000 after purchasing an additional 1,786 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of City by 82.3% in the 1st quarter. Jane Street Group LLC now owns 25,559 shares of the bank's stock worth $3,002,000 after acquiring an additional 11,537 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of City from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Hovde Group boosted their price objective on shares of City from $130.00 to $136.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Zacks Research cut shares of City from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Finally, DA Davidson upped their target price on shares of City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, City presently has a consensus rating of "Hold" and a consensus price target of $133.25.

City Stock Up 1.2%

CHCO opened at $126.53 on Friday. The firm has a 50 day moving average price of $125.48 and a 200 day moving average price of $120.99. City Holding Company has a 1 year low of $102.22 and a 1 year high of $137.28. The company has a market cap of $1.83 billion, a PE ratio of 15.23 and a beta of 0.57. 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 issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. Sell-side analysts expect that City Holding Company will post 7.58 earnings per share for the current year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.87 per share. This is a boost from City's previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. City's dividend payout ratio (DPR) is presently 41.88%.

Insiders Place Their Bets

In related news, 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 transaction of $131,120.00. Following the completion of the transaction, the executive vice president directly owned 1,830 shares in the company, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the firm'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 value of $327,650.00. Following the completion of the sale, the executive vice president directly owned 7,037 shares of the company's stock, valued at approximately $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 305 shares of company stock worth $38,750 over the last quarter. Company insiders own 1.87% of the company's stock.

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.