First Trust Advisors LP Purchases 16,060 Shares of City Holding Company $CHCO

Key Points

• First Trust Advisors increased its City Holding stake by 35.2% in the first quarter, purchasing 16,060 shares and bringing its holdings to 61,693 shares worth approximately $7.4 million. Institutional investors collectively own 72.43% of the company.
• City Holding beat quarterly expectations, reporting $2.35 in EPS versus the $2.23 consensus and revenue of $81.52 million. Analysts maintain a “Hold” consensus rating with an average price target of $136.50.
• City’s shares opened at $145.11, near their 12-month high, while the company paid a quarterly dividend of $0.87 per share, equating to a 2.4% annualized yield. Insiders sold substantially more stock than they bought over the past 90 days.

First Trust Advisors LP boosted its position in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 35.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,693 shares of the bank's stock after purchasing an additional 16,060 shares during the quarter. First Trust Advisors LP owned 0.44% of City worth $7,374,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CHCO. Commonwealth Financial Services LLC bought a new position in shares of City during the first quarter worth $373,000. Dimensional Fund Advisors LP increased its position in shares of City by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank's stock valued at $56,217,000 after buying an additional 8,992 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in City by 93.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 676 shares of the bank's stock worth $81,000 after buying an additional 326 shares during the period. Principal Financial Group Inc. raised its stake in City by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank's stock worth $8,398,000 after buying an additional 1,460 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in City by 428.5% during the first quarter. Fifth Third Bancorp now owns 3,964 shares of the bank's stock worth $474,000 after acquiring an additional 3,214 shares in the last quarter. Institutional investors own 72.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Hovde Group boosted their target price on City from $135.00 to $143.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings raised City from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, City currently has an average rating of "Hold" and a consensus target price of $136.50.

City Stock Up 0.4%

City stock opened at $145.11 on Friday. The stock has a market capitalization of $2.05 billion, a PE ratio of 15.88 and a beta of 0.49. City Holding Company has a twelve month low of $113.21 and a twelve month high of $146.66. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $132.08 and a 200-day moving average of $126.07.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.38%. The business had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. On average, equities research analysts anticipate that City Holding Company will post 9.29 EPS for the current fiscal year.

City Announces Dividend

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

Insiders Place Their Bets

In other City news, CFO David L. Bumgarner sold 1,161 shares of City stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the sale, the chief financial officer owned 10,666 shares of the company's stock, valued at $1,327,917. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the sale, the executive vice president owned 7,656 shares in the company, valued at approximately $957,000. This trade represents a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 544 shares of company stock worth $71,900 and sold 10,020 shares worth $1,339,923. Corporate insiders own 1.75% of the company's stock.

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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