Nuveen LLC Makes New Investment in City Holding Company $CHCO

Key Points

• Nuveen LLC has acquired approximately $4.88 million in shares of City Holding Company, representing about 0.28% of the company's stock.
• City Holding Company reported earnings of $2.29 per share, surpassing analyst estimates and achieving a net margin of 31.35% for the recent quarter.
• Analysts have raised their price targets for City Holding Company, with the consensus price target now at $133.25 after several upgrades from various firms.

Nuveen LLC acquired a new position in shares of City Holding Company (NASDAQ:CHCO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,572 shares of the bank's stock, valued at approximately $4,883,000. Nuveen LLC owned approximately 0.28% of City at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CHCO. Bessemer Group Inc. boosted its position in shares of City by 69.7% in the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after purchasing an additional 115 shares in the last quarter. CWM LLC increased its position in City by 43.9% during the 1st quarter. CWM LLC now owns 282 shares of the bank's stock valued at $33,000 after buying an additional 86 shares in the last quarter. First United Bank & Trust purchased a new position in City during the first quarter valued at $78,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in City by 10.8% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank's stock worth $170,000 after acquiring an additional 140 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of City by 31.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the bank's stock worth $212,000 after acquiring an additional 436 shares during the last quarter. Institutional investors own 72.43% of the company's stock.

City Stock Performance

CHCO stock traded down $1.26 on Monday, hitting $128.48. The company had a trading volume of 72,259 shares, compared to its average volume of 83,991. 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 stock has a market cap of $1.86 billion, a price-to-earnings ratio of 15.46 and a beta of 0.57. The stock's 50-day simple moving average is $124.97 and its 200 day simple moving average is $119.82.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.32. The firm had revenue of $78.16 million for the quarter, compared to the consensus estimate of $76.10 million. City had a return on equity of 16.30% and a net margin of 31.35%. As a group, equities research analysts expect that City Holding Company will post 7.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on CHCO. Wall Street Zen lowered City from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. DA Davidson lifted their target price on shares of City from $128.00 to $137.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Finally, Hovde Group raised 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. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $133.25.

Insider Activity

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

City Profile

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.