City Holding Company (NASDAQ:CHCO) Stock Position Raised by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its stake in City Holding Company by 24.3%, owning 631,584 shares worth approximately $74.2 million as of its latest SEC filing.
• City Holding Company recently reported earnings of $2.29 per share, surpassing analyst expectations of $1.97, along with revenue of $78.16 million compared to the estimated $76.10 million.
• The company declared a quarterly dividend of $0.79 per share, representing an annualized rate of $3.16 and a dividend yield of 2.6%.

Westwood Holdings Group Inc. increased its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 24.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 631,584 shares of the bank's stock after purchasing an additional 123,394 shares during the period. Westwood Holdings Group Inc. owned approximately 4.29% of City worth $74,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in City by 69.7% in the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. CWM LLC boosted 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 during the period. Sterling Capital Management LLC increased its position in City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock valued at $50,000 after purchasing an additional 375 shares during the period. First United Bank & Trust bought a new position in shares of City in the 1st quarter worth $78,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in City by 10.8% in 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 in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Performance

NASDAQ:CHCO traded down $1.09 during mid-day trading on Thursday, reaching $118.89. The stock had a trading volume of 74,489 shares, compared to its average volume of 144,627. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 14.31 and a beta of 0.56. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The business has a 50 day simple moving average of $122.27 and a 200 day simple moving average of $119.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.81.

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

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, July 15th. City's dividend payout ratio is presently 38.03%.

Insider Transactions at City

In other news, Director James M. Parsons bought 2,200 shares of the firm's stock in a transaction dated 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 purchase, the director owned 2,700 shares of the company's stock, valued at $330,426. This trade represents a 440.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the sale, the executive vice president owned 1,830 shares of the company's stock, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 2,505 shares of company stock worth $307,986 in the last ninety days. Insiders own 1.87% of the company's stock.

Analyst Upgrades and Downgrades

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

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.