Leeward Investments LLC MA Reduces Holdings in City Holding Company (NASDAQ:CHCO)

Leeward Investments LLC MA trimmed its position in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 79,015 shares of the bank's stock after selling 3,506 shares during the quarter. Leeward Investments LLC MA owned about 0.54% of City worth $9,282,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in 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 purchasing an additional 115 shares during the last quarter. Sterling Capital Management LLC grew its position in City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC grew its position in City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock valued at $56,000 after purchasing an additional 405 shares during the last quarter. First United Bank & Trust bought a new position in City during the 1st quarter valued at about $78,000. Finally, PNC Financial Services Group Inc. lifted its stake in City by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after acquiring an additional 131 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Performance

CHCO traded down $1.82 during midday trading on Monday, hitting $127.06. 141,760 shares of the company traded hands, compared to its average volume of 63,396. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.84 billion, a PE ratio of 15.92 and a beta of 0.54. The company's 50-day moving average is $119.53 and its 200 day moving average is $118.05. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.22. City had a net margin of 30.62% and a return on equity of 16.15%. The firm had revenue of $74.55 million for the quarter, compared to analysts' expectations of $73.28 million. On average, research analysts expect that City Holding Company will post 7.58 EPS 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 2.49%. The ex-dividend date of this dividend is Tuesday, July 15th. City's payout ratio is 39.60%.

Insiders Place Their Bets

In other news, Director James M. Parsons bought 2,200 shares of the firm's stock in a transaction on Monday, May 12th. The shares were bought at an average price of $122.38 per share, for a total transaction of $269,236.00. Following the purchase, the director owned 2,700 shares in the company, valued at approximately $330,426. The trade was a 440.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total transaction of $162,708.00. Following the sale, the executive vice president directly owned 2,830 shares of the company's stock, valued at approximately $328,902.60. This trade represents a 33.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,899 shares of company stock worth $339,590. Company insiders own 1.87% of the company's stock.

About City

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.