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Vanguard Group Inc. Sells 26,593 Shares of City Holding Company $CHCO

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Key Points

  • Vanguard Group Inc. has reduced its position in City Holding Company (NASDAQ:CHCO) by 1.5%, now owning approximately 11.71% of the company, valued at about $202.3 million.
  • Several institutional investors have recently modified their holdings in City, with CWM LLC increasing its stake by 43.9% during the first quarter.
  • City Holding Company announced a quarterly dividend of $0.79 per share, representing a yield of 2.6%, with a payout ratio of 38.03%.
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Vanguard Group Inc. cut its holdings in City Holding Company (NASDAQ:CHCO - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,722,431 shares of the bank's stock after selling 26,593 shares during the quarter. Vanguard Group Inc. owned 11.71% of City worth $202,334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew 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 valued at $33,000 after purchasing an additional 115 shares in the last quarter. CWM LLC grew its holdings 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 in the last quarter. Sterling Capital Management LLC boosted its stake in City by 781.3% during the fourth 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 purchased a new position in City during the first quarter worth $78,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in City by 10.8% during the fourth 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. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Trading Up 4.9%

Shares of NASDAQ:CHCO traded up $6.06 during trading on Friday, reaching $130.00. 103,734 shares of the company were exchanged, compared to its average volume of 91,128. The firm has a market capitalization of $1.88 billion, a PE ratio of 15.64 and a beta of 0.56. The business's fifty day simple moving average is $123.46 and its 200-day simple moving average is $119.40. City Holding Company has a 12-month low of $102.22 and a 12-month high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81.

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

City Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a $0.79 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.4%. City's payout ratio is currently 38.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. 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. Keefe, Bruyette & Woods raised their target price on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Hovde Group raised their target price on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of City from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, City has an average rating of "Hold" and a consensus target price of $133.25.

Check Out Our Latest Stock Report on CHCO

Insider Activity

In other news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the sale, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $131.06, for a total transaction of $327,650.00. Following the completion of the sale, the executive vice president owned 7,037 shares of the company's stock, valued at approximately $922,269.22. This represents a 26.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 305 shares of company stock valued at $38,750. Company insiders own 1.87% of the company's stock.

City Company 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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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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