Public Sector Pension Investment Board Has $5.47 Million Stock Holdings in City Holding Company $CHCO

Key Points

• The Public Sector Pension Investment Board increased its stake in City Holding Company (NASDAQ:CHCO) by 27.0% during the first quarter, now owning 46,576 shares valued at approximately $5.47 million.
• City Holding reported earnings of $2.29 EPS for the last quarter, exceeding analysts' expectations of $1.97, with revenues reaching $78.16 million.
• The company announced a quarterly dividend of $0.79 per share, which represents an annualized yield of 2.6% and a dividend payout ratio of 38.03%.

Public Sector Pension Investment Board increased its holdings in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,576 shares of the bank's stock after buying an additional 9,901 shares during the period. Public Sector Pension Investment Board owned 0.32% of City worth $5,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CHCO. Wells Fargo & Company MN raised its stake in shares of City by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 24,940 shares of the bank's stock worth $2,955,000 after buying an additional 1,530 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of City during the fourth quarter worth approximately $246,000. Invesco Ltd. raised its stake in shares of City by 0.8% during the fourth quarter. Invesco Ltd. now owns 76,100 shares of the bank's stock worth $9,016,000 after buying an additional 594 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of City during the fourth quarter worth approximately $361,000. Finally, Sterling Capital Management LLC raised its stake in shares of City by 781.3% during the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock worth $50,000 after buying an additional 375 shares during the last quarter. 72.43% of the stock is owned by institutional investors.

Insider Buying and Selling at City

In related news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction 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 transaction, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $131.06, for a total transaction of $327,650.00. Following the transaction, the executive vice president owned 7,037 shares of the company's stock, valued at $922,269.22. The trade was a 26.21% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 305 shares of company stock valued at $38,750 in the last 90 days. 1.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

City Stock Up 4.4%

Shares of City stock traded up $5.4640 on Friday, hitting $129.4040. The company had a trading volume of 41,950 shares, compared to its average volume of 82,993. The firm has a market capitalization of $1.88 billion, a P/E ratio of 15.57 and a beta of 0.56. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50-day moving average of $123.20 and a 200-day moving average of $119.33.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.32. The company had revenue of $78.16 million during 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%. Research analysts predict that City Holding Company will post 7.58 earnings per share for the current year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, July 15th. This represents a $3.16 annualized dividend and a yield of 2.4%. City's dividend payout ratio is presently 38.03%.

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.