Two Sigma Investments LP decreased its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,828 shares of the bank's stock after selling 3,450 shares during the quarter. Two Sigma Investments LP owned approximately 0.09% of City worth $1,520,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of CHCO. Sterling Capital Management LLC increased its holdings in City by 781.3% in the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock valued at $50,000 after acquiring an additional 375 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock valued at $56,000 after acquiring an additional 405 shares during the last quarter. KBC Group NV increased its holdings in City by 60.3% in the 4th quarter. KBC Group NV now owns 843 shares of the bank's stock valued at $100,000 after acquiring an additional 317 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after acquiring an additional 131 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in City by 10.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank's stock valued at $170,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.
City Price Performance
NASDAQ CHCO traded up $1.73 on Friday, reaching $117.90. The company had a trading volume of 79,522 shares, compared to its average volume of 59,724. The firm's 50 day moving average price is $116.59 and its 200 day moving average price is $119.44. City Holding has a 12 month low of $99.79 and a 12 month high of $137.28. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.71 billion, a PE ratio of 14.94 and a beta of 0.52.
City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.22. City had a net margin of 30.83% and a return on equity of 16.49%. The firm had revenue of $74.55 million for the quarter, compared to the consensus estimate of $73.28 million. As a group, equities analysts predict that City Holding will post 7.58 earnings per share for the current year.
City Announces Dividend
The firm also recently declared 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 2.68%. City's payout ratio is presently 39.60%.
Insider Transactions at City
In related news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the transaction, the executive vice president now owns 2,830 shares in the company, valued at $328,902.60. The trade was a 33.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David L. Bumgarner sold 1,058 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total transaction of $124,844.00. Following the transaction, the chief financial officer now owns 10,636 shares of the company's stock, valued at approximately $1,255,048. This trade represents a 9.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,899 shares of company stock valued at $339,590. Company insiders own 1.87% of the company's stock.
City Profile
(
Free Report)
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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