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

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%.

Vanguard Group Inc. cut its holdings in City Holding Company (NASDAQ:CHCO - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CHCO. Westwood Holdings Group Inc. lifted its stake in City by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock valued at $74,192,000 after buying an additional 123,394 shares during the period. GAMMA Investing LLC lifted its stake in City by 13,747.8% in the first quarter. GAMMA Investing LLC now owns 37,943 shares of the bank's stock valued at $4,457,000 after buying an additional 37,669 shares during the period. Tudor Investment Corp ET AL lifted its stake in City by 117.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 42,159 shares of the bank's stock valued at $4,995,000 after buying an additional 22,741 shares during the period. Citadel Advisors LLC lifted its stake in City by 153.1% in the fourth quarter. Citadel Advisors LLC now owns 25,365 shares of the bank's stock valued at $3,005,000 after buying an additional 15,342 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in City in the first quarter valued at approximately $1,493,000. 72.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CHCO shares. DA Davidson upped their target price on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Hovde Group upped their target price on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their target price on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered City from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $133.25.

City Stock Down 1.0%

City stock traded down $1.26 during trading on Monday, hitting $128.74. 55,806 shares of the company were exchanged, compared to its average volume of 91,952. The business's 50 day moving average is $123.73 and its 200 day moving average is $119.46. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28. The company has a market capitalization of $1.87 billion, a P/E ratio of 15.49 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $78.16 million during the quarter, compared to the consensus estimate of $76.10 million. Analysts predict that City Holding Company will post 7.58 earnings per share for the current year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, July 15th. City's dividend payout ratio is 38.03%.

Insiders Place Their Bets

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

City Company 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.