TD Asset Management Inc Sells 6,900 Shares of City Holding Company (NASDAQ:CHCO)

TD Asset Management Inc reduced its stake in City Holding Company (NASDAQ:CHCO - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,000 shares of the bank's stock after selling 6,900 shares during the period. TD Asset Management Inc owned 0.23% of City worth $3,994,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CHCO. Bessemer Group Inc. raised its holdings in City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after purchasing an additional 115 shares during the period. CWM LLC increased its position in shares of City by 43.9% in 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. Sterling Capital Management LLC raised its stake in City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock worth $50,000 after buying an additional 375 shares during the period. First United Bank & Trust bought a new position in City during the first quarter worth about $78,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in City by 10.8% during 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. 72.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 1,830 shares in the company, valued at $239,949.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Dale Legge sold 2,500 shares of City stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $131.06, for a total value of $327,650.00. Following the completion of the sale, the executive vice president directly owned 7,037 shares in the company, valued at approximately $922,269.22. This represents a 26.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,625 shares of company stock worth $321,993. 1.87% of the stock is owned by insiders.

City Stock Down 1.1%

CHCO stock opened at $120.76 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.83. The stock has a market capitalization of $1.75 billion, a P/E ratio of 14.53 and a beta of 0.56. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $137.28. The business has a 50-day moving average of $122.17 and a 200-day moving average of $119.01.

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

City Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, July 15th. This represents a $3.16 annualized dividend and a yield of 2.6%. City's dividend payout ratio is presently 38.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CHCO shares. Keefe, Bruyette & Woods increased their price target on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. DA Davidson raised 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. Hovde Group lifted their price target on shares of City from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of City from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, City currently has an average rating of "Hold" and an average target price 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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