City Holding Company (NASDAQ:CHCO) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 50.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,947 shares of the bank's stock after selling 5,092 shares during the period. Teacher Retirement System of Texas' holdings in City were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bessemer Group Inc. grew its holdings in City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after purchasing an additional 115 shares during the period. Sterling Capital Management LLC grew its holdings in City by 781.3% in the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock valued at $50,000 after purchasing an additional 375 shares during the period. First United Bank & Trust acquired a new stake in City in the first quarter valued at approximately $78,000. PNC Financial Services Group Inc. grew its holdings in City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after purchasing an additional 131 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew 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 valued at $170,000 after purchasing an additional 140 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

City Price Performance

CHCO traded up $1.64 during trading on Thursday, hitting $125.34. The company's stock had a trading volume of 90,029 shares, compared to its average volume of 68,291. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The business's fifty day simple moving average is $120.90 and its 200 day simple moving average is $118.31. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 15.71 and a beta of 0.54.

City (NASDAQ:CHCO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.22. The business had revenue of $74.55 million for the quarter, compared to the consensus estimate of $73.28 million. City had a return on equity of 16.15% and a net margin of 30.62%. On average, equities research analysts forecast that City Holding Company will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.52%. City's dividend payout ratio (DPR) is presently 39.60%.

Insider Activity

In related news, Director James M. Parsons acquired 2,200 shares of the stock in a transaction on Monday, May 12th. The shares were bought at an average price of $122.38 per share, with a total value of $269,236.00. Following the completion of the purchase, the director owned 2,700 shares of the company's stock, valued at approximately $330,426. This represents a 440.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David L. Bumgarner sold 1,058 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total value of $124,844.00. Following the transaction, the chief financial officer directly owned 10,636 shares in the company, valued at $1,255,048. This trade represents a 9.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,899 shares of company stock worth $339,590 over the last quarter. 1.87% of the stock is currently owned by corporate insiders.

About City

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.