Wealth Enhancement Advisory Services LLC Buys 5,088 Shares of City Holding Company (NASDAQ:CHCO)

Wealth Enhancement Advisory Services LLC grew its stake in City Holding Company (NASDAQ:CHCO - Free Report) by 82.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,226 shares of the bank's stock after buying an additional 5,088 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of City worth $1,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in City by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank's stock worth $1,481,000 after buying an additional 893 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of City in the 1st quarter worth approximately $326,000. Charles Schwab Investment Management Inc. boosted its stake in shares of City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock valued at $65,253,000 after purchasing an additional 22,226 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of City by 13,747.8% during the 1st quarter. GAMMA Investing LLC now owns 37,943 shares of the bank's stock valued at $4,457,000 after purchasing an additional 37,669 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of City by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,247 shares of the bank's stock valued at $977,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 72.43% of the company's stock.

Insider Buying and Selling

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $116.22, for a total transaction of $162,708.00. Following the sale, the executive vice president owned 2,830 shares of the company's stock, valued at approximately $328,902.60. The trade was a 33.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James M. Parsons bought 2,200 shares of City stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $122.38 per share, for a total transaction of $269,236.00. Following the acquisition, the director directly owned 2,700 shares in the company, valued at approximately $330,426. This trade represents a 440.00% increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,899 shares of company stock valued at $339,590 over the last quarter. 1.87% of the stock is owned by company insiders.

City Trading Up 3.0%

City stock traded up $3.66 during mid-day trading on Tuesday, hitting $126.08. The company's stock had a trading volume of 94,379 shares, compared to its average volume of 62,024. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 15.80 and a beta of 0.54. The business has a 50 day moving average price of $118.67 and a 200-day moving average price of $117.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. City Holding Company has a 12 month low of $102.22 and a 12 month high of $137.28.

City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.22. City had a net margin of 30.62% and a return on equity of 16.15%. The company had revenue of $74.55 million during the quarter, compared to analyst estimates of $73.28 million. As a group, analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.51%. City's dividend payout ratio is presently 39.60%.

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.