Quantbot Technologies LP Invests $1.19 Million in City Holding Company $CHCO

Key Points

• Quantbot Technologies LP acquired 8,962 shares of City Holding Company worth approximately $1.19 million, while institutional investors and hedge funds collectively own 72.43% of the stock.
• Analyst sentiment remains cautious: City has a consensus “Hold” rating and a $136.50 target price, despite Weiss Ratings upgrading the stock and Hovde Group raising its target to $143.
• City exceeded quarterly expectations, reporting $2.35 in EPS versus the $2.23 consensus and revenue of $81.52 million. Shares opened at $144.47, near the company’s 52-week high of $148.99, while CEO Charles R. Hageboeck sold shares worth about $650,000.

Quantbot Technologies LP purchased a new position in shares of City Holding Company (NASDAQ:CHCO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,962 shares of the bank's stock, valued at approximately $1,189,000. Quantbot Technologies LP owned approximately 0.06% of City as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in City by 5.6% during the 1st quarter. Royal Bank of Canada now owns 15,586 shares of the bank's stock worth $1,831,000 after purchasing an additional 821 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of City by 34.5% in the first quarter. AQR Capital Management LLC now owns 8,977 shares of the bank's stock worth $1,055,000 after buying an additional 2,305 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of City by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank's stock worth $1,014,000 after buying an additional 387 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in City during the first quarter worth about $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in City by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank's stock worth $4,497,000 after acquiring an additional 2,603 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CHCO. Weiss Ratings upgraded shares of City from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Hovde Group boosted their target price on City from $135.00 to $143.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, City currently has a consensus rating of "Hold" and a consensus target price of $136.50.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 4,485 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the completion of the sale, the chief executive officer owned 43,998 shares of the company's stock, valued at $6,377,950.08. This represents a 9.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have bought 444 shares of company stock valued at $59,740. Insiders own 1.75% of the company's stock.

City Stock Down 0.3%

NASDAQ CHCO opened at $144.47 on Wednesday. City Holding Company has a 52 week low of $113.21 and a 52 week high of $148.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $138.61 and its 200-day simple moving average is $128.78. The firm has a market cap of $2.03 billion, a PE ratio of 15.81 and a beta of 0.48.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The firm had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. As a group, equities analysts anticipate that City Holding Company will post 9.29 earnings per share for the current 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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