D. E. Shaw & Co. Inc. reduced its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 33.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,170 shares of the bank's stock after selling 2,132 shares during the period. D. E. Shaw & Co. Inc.'s holdings in City were worth $494,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock valued at $65,253,000 after acquiring an additional 22,226 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in City by 24.2% during the 4th quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock valued at $31,071,000 after purchasing an additional 51,055 shares in the last quarter. Northern Trust Corp raised its position in City by 2.3% in the 4th quarter. Northern Trust Corp now owns 178,962 shares of the bank's stock valued at $21,203,000 after purchasing an additional 3,944 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in City by 0.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock worth $12,964,000 after purchasing an additional 885 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of City by 3.2% during the fourth quarter. American Century Companies Inc. now owns 92,244 shares of the bank's stock worth $10,929,000 after purchasing an additional 2,903 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other City news, Director James M. Parsons bought 2,200 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $122.38 per share, with a total value of $269,236.00. Following the purchase, the director now owns 2,700 shares in the company, valued at $330,426. This trade represents a 440.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David L. Bumgarner sold 1,058 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total transaction of $124,844.00. Following the sale, the chief financial officer now owns 10,636 shares in the company, valued at $1,255,048. This trade represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,899 shares of company stock valued at $339,590 over the last 90 days. 1.87% of the stock is owned by company insiders.
City Price Performance
NASDAQ:CHCO traded down $1.26 during mid-day trading on Friday, reaching $118.01. 2,744 shares of the company were exchanged, compared to its average volume of 64,654. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.71 billion, a PE ratio of 14.96 and a beta of 0.52. City Holding has a 12 month low of $99.63 and a 12 month high of $137.28. The company has a fifty day moving average of $116.72 and a 200 day moving average of $119.98.
City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, beating the consensus estimate of $1.84 by $0.22. The business had revenue of $74.55 million for the quarter, compared to analysts' expectations of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. On average, research analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.
City Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $0.79 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.68%. City's dividend payout ratio (DPR) is currently 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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