Nuveen Asset Management LLC raised its holdings in City Holding (NASDAQ:CHCO - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,743 shares of the bank's stock after buying an additional 3,688 shares during the period. Nuveen Asset Management LLC owned about 0.29% of City worth $5,064,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in CHCO. Guggenheim Capital LLC lifted its position in shares of City by 1.3% during the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank's stock valued at $1,047,000 after purchasing an additional 114 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of City by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after purchasing an additional 131 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of City by 4.1% during the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank's stock valued at $524,000 after purchasing an additional 176 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of City by 2.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,247 shares of the bank's stock valued at $977,000 after purchasing an additional 235 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of City by 3.7% during the fourth quarter. MetLife Investment Management LLC now owns 8,719 shares of the bank's stock valued at $1,033,000 after purchasing an additional 310 shares in the last quarter. 72.43% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CFO David L. Bumgarner sold 441 shares of City stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $118.00, for a total value of $52,038.00. Following the completion of the transaction, the chief financial officer now owns 10,195 shares in the company, valued at $1,203,010. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City stock in a transaction dated Thursday, May 1st. The stock was 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 now owns 2,830 shares of the company's stock, valued at $328,902.60. The trade was a 33.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,899 shares of company stock valued at $339,590. Company insiders own 1.87% of the company's stock.
City Stock Down 1.4%
Shares of CHCO traded down $1.65 during trading hours on Wednesday, reaching $116.80. 39,626 shares of the stock traded hands, compared to its average volume of 59,262. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $116.61 and a 200 day simple moving average of $119.60. City Holding has a 52 week low of $99.79 and a 52 week high of $137.28. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 14.80 and a beta of 0.52.
City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, topping the consensus estimate of $1.84 by $0.22. The business had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. On average, equities analysts forecast that City Holding will post 7.58 EPS for the current year.
City Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, July 15th. City's dividend payout ratio is 39.60%.
City Profile
(
Free Report)
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.
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