OMERS ADMINISTRATION Corp Invests $247,000 in City Holding Company $CHCO

Key Points

• OMERS ADMINISTRATION Corp has invested approximately $247,000 by purchasing 2,100 shares in City Holding Company (NASDAQ:CHCO) during the first quarter.
• Insiders, including EVP Jeffrey Dale Legge and EVP Michael T. Quinlan, Jr., have recently sold shares, reducing their ownership by 26.21% and 35.34% respectively.
• City Holding Company reported $2.29 earnings per share in its latest quarterly results, exceeding the consensus estimate of $1.97 by $0.32.

OMERS ADMINISTRATION Corp purchased a new position in shares of City Holding Company (NASDAQ:CHCO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,100 shares of the bank's stock, valued at approximately $247,000.

A number of other large investors have also recently added to or reduced their stakes in the business. AlphaQuest LLC grew its stake in City by 24.8% in the 1st quarter. AlphaQuest LLC now owns 9,012 shares of the bank's stock valued at $1,059,000 after acquiring an additional 1,790 shares during the last quarter. Hsbc Holdings PLC grew its stake in City by 93.9% in the 1st quarter. Hsbc Holdings PLC now owns 3,269 shares of the bank's stock valued at $384,000 after acquiring an additional 1,583 shares during the last quarter. American Century Companies Inc. grew its stake in City by 1.7% in the 1st quarter. American Century Companies Inc. now owns 93,831 shares of the bank's stock valued at $11,022,000 after acquiring an additional 1,587 shares during the last quarter. Russell Investments Group Ltd. grew its stake in City by 3.4% in the 1st quarter. Russell Investments Group Ltd. now owns 9,648 shares of the bank's stock valued at $1,133,000 after acquiring an additional 319 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in City by 27.0% in the 1st quarter. Public Sector Pension Investment Board now owns 46,576 shares of the bank's stock valued at $5,471,000 after acquiring an additional 9,901 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $131.06, for a total transaction of $327,650.00. Following the transaction, the executive vice president directly owned 7,037 shares in the company, valued at $922,269.22. This represents a 26.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.12, for a total transaction of $131,120.00. Following the transaction, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 305 shares of company stock worth $38,750. Insiders own 1.87% of the company's stock.

City Trading Up 1.3%

Shares of CHCO stock opened at $130.15 on Friday. The firm has a market cap of $1.89 billion, a P/E ratio of 15.66 and a beta of 0.57. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50-day simple moving average is $125.45 and its 200-day simple moving average is $120.01.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson increased their price objective on shares of City from $128.00 to $137.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of City from $125.00 to $135.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of City from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Hovde Group raised their price target on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $133.25.

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.

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