Deutsche Bank AG increased its holdings in City Holding (NASDAQ:CHCO - Free Report) by 54.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,810 shares of the bank's stock after buying an additional 4,496 shares during the period. Deutsche Bank AG owned 0.09% of City worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in City by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank's stock valued at $1,481,000 after purchasing an additional 893 shares during the last quarter. Barclays PLC lifted its stake in shares of City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank's stock valued at $3,385,000 after purchasing an additional 16,044 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in City by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after acquiring an additional 22,226 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in City in the 4th quarter valued at $227,000. Finally, Principal Financial Group Inc. boosted its stake in City by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank's stock valued at $9,243,000 after purchasing an additional 2,726 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.
City Stock Performance
Shares of NASDAQ CHCO traded up $1.22 during midday trading on Thursday, reaching $119.27. The company's stock had a trading volume of 48,498 shares, compared to its average volume of 59,443. The stock has a market capitalization of $1.73 billion, a P/E ratio of 15.12 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a 12-month low of $99.79 and a 12-month high of $137.28. The firm has a 50 day moving average price of $116.72 and a 200-day moving average price of $119.98.
City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.22. City had a return on equity of 16.49% and a net margin of 30.83%. The business had revenue of $74.55 million for the quarter, compared to analysts' expectations of $73.28 million. As a group, equities analysts predict that City Holding will post 7.58 earnings per share for the current year.
City Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.65%. City's dividend payout ratio is presently 39.60%.
Insiders Place Their Bets
In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total value of $162,708.00. Following the completion of the sale, the executive vice president now directly owns 2,830 shares of the company's stock, valued at $328,902.60. This represents a 33.10% decrease in their ownership of the stock. The sale 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 City stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 approximately $1,255,048. The trade was a 9.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,069 shares of company stock worth $359,820. 1.87% of the stock is currently owned by corporate insiders.
City Company 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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