Public Employees Retirement System of Ohio Buys New Stake in City Holding Company $CHCO

Key Points

• Public Employees Retirement System of Ohio purchased 21,715 shares of City Holding Company, valued at approximately $2.88 million, giving it a 0.15% stake. Institutional investors collectively own 72.43% of the company.
• City Holding’s CEO and a director sold shares in recent transactions, while insiders own 1.75% of the company. Analysts maintain a consensus “Hold” rating with an average price target of $136.50.
• City reported quarterly earnings of $2.35 per share, exceeding the $2.23 consensus estimate, while revenue of $81.52 million also topped expectations. Shares opened at $145.57, near their 12-month high of $148.99.

Public Employees Retirement System of Ohio purchased a new stake in City Holding Company (NASDAQ:CHCO - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 21,715 shares of the bank's stock, valued at approximately $2,880,000. Public Employees Retirement System of Ohio owned about 0.15% of City as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Allworth Financial LP bought a new position in shares of City during the 2nd quarter valued at about $27,000. Kestra Advisory Services LLC bought a new stake in shares of City in the fourth quarter worth about $29,000. Quarry LP purchased a new stake in shares of City in the third quarter worth about $32,000. Simplex Trading LLC purchased a new stake in shares of City in the fourth quarter worth about $36,000. Finally, Geneos Wealth Management Inc. boosted its stake 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 buying an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.

Insider Activity at City

In other news, CEO Charles R. Hageboeck sold 4,485 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the transaction, the chief executive officer owned 43,998 shares of the company's stock, valued at approximately $6,377,950.08. The trade was a 9.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sharon H. Rowe sold 400 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total value of $57,584.00. Following the sale, the director owned 10,576 shares in the company, valued at $1,522,520.96. The trade was a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 444 shares of company stock valued at $59,740 over the last ninety days. Corporate insiders own 1.75% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hovde Group raised their price target on City from $135.00 to $143.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings upgraded City from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $136.50.

City Stock Up 0.4%

Shares of NASDAQ CHCO opened at $145.57 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. City Holding Company has a 12-month low of $113.21 and a 12-month high of $148.99. The firm's 50-day moving average price is $140.91 and its 200-day moving average price is $129.70. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.93 and a beta of 0.48.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. City had a return on equity of 16.34% and a net margin of 32.58%.The company had revenue of $81.52 million during 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 Company 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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