Westwood Holdings Group Inc. Has $60.21 Million Stock Position in City Holding (NASDAQ:CHCO)

Westwood Holdings Group Inc. decreased its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 508,190 shares of the bank's stock after selling 41,719 shares during the period. Westwood Holdings Group Inc. owned 3.46% of City worth $60,210,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CHCO. Sterling Capital Management LLC lifted its position in shares of City by 781.3% in 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 last quarter. Smartleaf Asset Management LLC increased its stake in City by 710.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock valued at $56,000 after acquiring an additional 405 shares during the period. KBC Group NV increased its stake in City by 60.3% during the fourth quarter. KBC Group NV now owns 843 shares of the bank's stock valued at $100,000 after acquiring an additional 317 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after purchasing an additional 131 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of City by 10.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank's stock valued at $170,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 72.43% of the company's stock.

City Price Performance

Shares of CHCO stock traded down $0.74 during trading hours on Thursday, hitting $118.81. The company had a trading volume of 34,713 shares, compared to its average volume of 59,480. City Holding has a 12 month low of $99.63 and a 12 month high of $137.28. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.06 and a beta of 0.52. The firm's fifty day moving average is $116.67 and its 200 day moving average is $120.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.22. The business had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. City had a return on equity of 16.49% and a net margin of 30.83%. On average, sell-side analysts predict that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.66%. The ex-dividend date was Tuesday, April 15th. City's dividend payout ratio is 39.60%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on City from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th.

Insiders Place Their Bets

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $116.22, for a total value of $162,708.00. Following the transaction, the executive vice president now owns 2,830 shares of the company's stock, valued at $328,902.60. This represents a 33.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David L. Bumgarner sold 1,058 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total value of $124,844.00. Following the completion of the transaction, the chief financial officer now directly owns 10,636 shares in the company, valued at approximately $1,255,048. This trade represents a 9.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,069 shares of company stock valued at $359,820. 1.87% of the stock is currently owned by corporate insiders.

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.