Dimensional Fund Advisors LP Boosts Stock Holdings in City Holding Company $CHCO

Key Points

• Dimensional Fund Advisors increased its City Holding stake by 1.9% in the first quarter to 470,344 shares valued at approximately $56.2 million. Institutional investors collectively own 72.43% of the bank.
• City Holding reported quarterly earnings of $2.35 per share, beating estimates of $2.23, while revenue of $81.52 million also exceeded expectations. The company maintains a quarterly dividend of $0.87, equivalent to a 2.4% annual yield.
• CHCO shares opened at $145.11, near their 52-week high of $146.66, despite analysts’ consensus “Hold” rating and average price target of $136.50. Insiders have sold significantly more shares than they purchased over the past quarter.

Dimensional Fund Advisors LP boosted its stake in City Holding Company (NASDAQ:CHCO - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 470,344 shares of the bank's stock after purchasing an additional 8,992 shares during the period. Dimensional Fund Advisors LP owned about 3.27% of City worth $56,217,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP increased its holdings in City by 136.4% during the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank's stock valued at $15,335,000 after purchasing an additional 71,436 shares during the period. Tudor Investment Corp ET AL lifted its stake in City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock worth $9,543,000 after acquiring an additional 29,828 shares during the period. Marshall Wace LLP bought a new stake in City in the second quarter valued at $2,216,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in City during the 4th quarter valued at $2,157,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in City by 64.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,622 shares of the bank's stock valued at $5,081,000 after purchasing an additional 16,644 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Performance

Shares of NASDAQ CHCO opened at $145.11 on Friday. The firm's 50-day moving average price is $132.08 and its 200-day moving average price is $126.07. City Holding Company has a 52-week low of $113.21 and a 52-week high of $146.66. The company has a market cap of $2.05 billion, a PE ratio of 15.88 and a beta of 0.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. City had a return on equity of 16.38% and a net margin of 32.58%.The company had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. As a group, analysts anticipate that City Holding Company will post 9.29 EPS for the current year.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were issued a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.4%. City's payout ratio is currently 38.07%.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 4,485 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the sale, the chief executive officer owned 43,998 shares in the company, valued at approximately $6,377,950.08. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total transaction of $163,625.00. Following the sale, the executive vice president owned 7,656 shares in the company, valued at $957,000. This represents a 14.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 544 shares of company stock worth $71,900 and have sold 10,020 shares worth $1,339,923. Company insiders own 1.75% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CHCO shares. Weiss Ratings raised City from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, July 16th. Hovde Group increased their price objective on City from $135.00 to $143.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $136.50.

City Profile

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

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