Deutsche Bank AG Increases Stock Position in City Holding Company $CHCO

Key Points

• Deutsche Bank AG increased its stake in City Holding Company (NASDAQ:CHCO) by 81.6%, owning 23,260 shares valued at approximately $2.73 million after purchasing an additional 10,450 shares recently.
• Multiple analysts have raised their price targets for City shares, with DA Davidson now targeting $137.00 while maintaining a "neutral" rating, reflecting positive sentiment on the stock despite varying ratings.
• City Holding Company recently announced a quarterly dividend of $0.79 per share, resulting in an annualized yield of 2.6% and a payout ratio of 38.03%.

Deutsche Bank AG boosted its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 81.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,260 shares of the bank's stock after buying an additional 10,450 shares during the quarter. Deutsche Bank AG owned approximately 0.16% of City worth $2,732,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CHCO. Westwood Holdings Group Inc. grew its position in City by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock valued at $74,192,000 after buying an additional 123,394 shares during the period. GAMMA Investing LLC grew its position in City by 13,747.8% during the first quarter. GAMMA Investing LLC now owns 37,943 shares of the bank's stock valued at $4,457,000 after buying an additional 37,669 shares during the period. Charles Schwab Investment Management Inc. grew its position in City by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock valued at $68,139,000 after buying an additional 29,302 shares during the period. Tudor Investment Corp ET AL grew its position in City by 117.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 42,159 shares of the bank's stock valued at $4,995,000 after buying an additional 22,741 shares during the period. Finally, Citadel Advisors LLC grew its position in City by 153.1% during the fourth quarter. Citadel Advisors LLC now owns 25,365 shares of the bank's stock valued at $3,005,000 after buying an additional 15,342 shares during the period. Institutional investors own 72.43% of the company's stock.

City Price Performance

Shares of CHCO stock traded down $1.26 during trading hours on Monday, reaching $128.74. The stock had a trading volume of 55,806 shares, compared to its average volume of 91,952. The stock's fifty day simple moving average is $123.73 and its 200 day simple moving average is $119.46. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a 12 month low of $102.22 and a 12 month high of $137.28. The firm has a market capitalization of $1.87 billion, a PE ratio of 15.49 and a beta of 0.56.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.32. City had a net margin of 31.35% and a return on equity of 16.30%. The company had revenue of $78.16 million during the quarter, compared to analyst estimates of $76.10 million. On average, equities research analysts predict that City Holding Company will post 7.58 EPS for the current year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, July 15th. City's dividend payout ratio (DPR) is 38.03%.

Insider Buying and Selling

In other news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the transaction, the executive vice president directly owned 1,830 shares in the company, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total transaction of $327,650.00. Following the completion of the transaction, the executive vice president owned 7,037 shares of the company's stock, valued at $922,269.22. This trade represents a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 305 shares of company stock valued at $38,750 over the last 90 days. 1.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.