City Holding Company (NASDAQ:CHCO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,645 shares of the bank's stock after buying an additional 2,635 shares during the period. Principal Financial Group Inc. owned 0.55% of City worth $9,473,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of City by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank's stock valued at $1,408,000 after buying an additional 1,340 shares during the last quarter. Bessemer Group Inc. grew its position in shares of City by 69.7% during the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after buying an additional 115 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of City by 6.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank's stock valued at $546,000 after buying an additional 301 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of City by 18.4% during the 1st quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank's stock valued at $525,000 after buying an additional 693 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in City by 82.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,226 shares of the bank's stock valued at $1,319,000 after purchasing an additional 5,088 shares during the period. Institutional investors own 72.43% of the company's stock.

Insider Buying and Selling at City

In other City news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the transaction, the executive vice president directly owned 2,830 shares of the company's stock, valued at $328,902.60. The trade was a 33.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David L. Bumgarner sold 1,058 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total transaction of $124,844.00. Following the transaction, the chief financial officer directly owned 10,636 shares of the company's stock, valued at $1,255,048. The trade was a 9.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,899 shares of company stock valued at $339,590 in the last ninety days. Company insiders own 1.87% of the company's stock.

City Stock Performance

City stock traded up $1.25 during midday trading on Wednesday, reaching $123.70. 94,187 shares of the stock traded hands, compared to its average volume of 68,321. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $120.90 and a two-hundred day moving average price of $118.31. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 15.50 and a beta of 0.54. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $137.28.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.22. The firm had revenue of $74.55 million during the quarter, compared to analyst estimates of $73.28 million. City had a net margin of 30.62% and a return on equity of 16.15%. On average, equities research analysts forecast 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 will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, July 15th. City's payout ratio is 39.60%.

City 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.