New York State Teachers Retirement System reduced its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 88.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,517 shares of the bank's stock after selling 20,039 shares during the period. New York State Teachers Retirement System's holdings in City were worth $301,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Horizon Corp increased its holdings in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in City in the 4th quarter worth approximately $29,000. Quarry LP bought a new stake in City during the third quarter worth approximately $32,000. Simplex Trading LLC bought a new stake in City during the fourth quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its holdings in City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock valued at $46,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.
Insider Activity at City
In other news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the transaction, the executive vice president owned 3,314 shares in the company, valued at approximately $417,862.26. The trade was a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 5,855 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $125.30, for a total transaction of $733,631.50. Following the transaction, the chief executive officer owned 50,341 shares in the company, valued at approximately $6,307,727.30. The trade was a 10.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have bought 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. 1.75% of the stock is currently owned by insiders.
City Trading Up 0.1%
City stock opened at $134.17 on Wednesday. City Holding Company has a 52 week low of $113.21 and a 52 week high of $136.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $1.89 billion, a PE ratio of 14.78 and a beta of 0.49. The business's 50-day simple moving average is $127.61 and its 200-day simple moving average is $124.45.
City (NASDAQ:CHCO - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.03. The firm had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. Equities research analysts forecast that City Holding Company will post 8.99 earnings per share for the current year.
City announced that its board has authorized a share repurchase program on Wednesday, March 25th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
City Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. City's payout ratio is 38.33%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of City in a research report on Wednesday, May 27th. Hovde Group upped their price objective on shares of City from $133.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $134.25.
Check Out Our Latest Stock Report on CHCO
City Profile
(
Free Report)
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.
Further Reading
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