Universal Beteiligungs und Servicegesellschaft mbH Makes New $1.49 Million Investment in City Holding Company (NASDAQ:CHCO)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has invested approximately $1.49 million in City Holding Company, acquiring 12,706 shares during the 1st quarter of 2023.
• City Holding Company reported a Q2 earnings per share of $2.29, surpassing analyst estimates by $0.32, and revealed a net margin of 31.35% with revenues of $78.16 million.
• The company recently declared a $0.79 quarterly dividend, translating to an annualized yield of 2.6%, with a dividend payout ratio of 38.03%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of City Holding Company (NASDAQ:CHCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,706 shares of the bank's stock, valued at approximately $1,493,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.09% of City at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CHCO. CWM LLC grew its position in shares of City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank's stock valued at $33,000 after purchasing an additional 86 shares during the last quarter. Alps Advisors Inc. acquired a new stake in City during the 1st quarter valued at $359,000. Principal Financial Group Inc. increased its position in City by 3.4% during the first quarter. Principal Financial Group Inc. now owns 80,645 shares of the bank's stock worth $9,473,000 after buying an additional 2,635 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in City by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank's stock worth $1,408,000 after buying an additional 1,340 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.

Insider Buying and Selling at City

In related news, Director James M. Parsons acquired 2,200 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $122.38 per share, for a total transaction of $269,236.00. Following the completion of the acquisition, the director directly owned 2,700 shares of the company's stock, valued at approximately $330,426. This trade represents a 440.00% increase in their position. The acquisition 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 the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.06, for a total value of $327,650.00. Following the sale, the executive vice president owned 7,037 shares of the company's stock, valued at approximately $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 2,625 shares of company stock worth $321,993 over the last three months. Corporate insiders own 1.87% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CHCO shares. Wall Street Zen raised City from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods lifted their price objective on City from $125.00 to $135.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. DA Davidson boosted their price target on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Hovde Group boosted their price target on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, City currently has an average rating of "Hold" and a consensus target price of $133.25.

City Trading Down 1.1%

Shares of NASDAQ:CHCO traded down $1.34 during midday trading on Friday, hitting $120.76. The company had a trading volume of 124,320 shares, compared to its average volume of 154,531. City Holding Company has a 12 month low of $102.22 and a 12 month high of $137.28. The company has a current ratio of 0.81, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 14.53 and a beta of 0.56. The firm has a fifty day simple moving average of $122.17 and a 200 day simple moving average of $119.01.

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

City Announces Dividend

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

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.