GAMMA Investing LLC raised its stake in shares of City Holding (NASDAQ:CHCO - Free Report) by 13,747.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,943 shares of the bank's stock after buying an additional 37,669 shares during the period. GAMMA Investing LLC owned about 0.26% of City worth $4,457,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CHCO. Price T Rowe Associates Inc. MD grew its position in shares of City by 7.7% during 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 acquiring an additional 893 shares during the period. Barclays PLC boosted its holdings in shares of City by 125.3% during 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 last quarter. Apollon Wealth Management LLC purchased a new stake in shares of City during the 4th quarter valued at about $227,000. Charles Schwab Investment Management Inc. raised its position in shares of City by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock valued at $65,253,000 after buying an additional 22,226 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of 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 buying an additional 2,726 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.
City Trading Down 1.7%
City stock traded down $1.96 during midday trading on Friday, reaching $116.69. The stock had a trading volume of 83,153 shares, compared to its average volume of 59,713. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a 52-week low of $100.79 and a 52-week high of $137.28. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 14.79 and a beta of 0.54. The company has a fifty day moving average of $117.16 and a 200 day moving average of $119.00.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.22. City had a net margin of 30.83% and a return on equity of 16.49%. The company had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. On average, analysts anticipate that City Holding will post 7.58 earnings per share for the current fiscal year.
City Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, July 15th. City's dividend payout ratio (DPR) is currently 39.60%.
Insider Buying and Selling
In other news, Director James M. Parsons acquired 2,200 shares of City stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $122.38 per share, with a total value of $269,236.00. Following the transaction, the director now directly owns 2,700 shares of the company's stock, valued at $330,426. This trade represents a 440.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the transaction, the executive vice president now owns 2,830 shares in the company, valued at $328,902.60. This represents a 33.10% 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 in the last ninety days. 1.87% of the stock is owned by company 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.
Read More
Before you consider City, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and City wasn't on the list.
While City currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
