WINTON GROUP Ltd Buys 16,020 Shares of City Holding Company $CHCO

Key Points

• WINTON GROUP Ltd increased its City Holding stake by 213% in the second quarter, purchasing 16,020 additional shares to own 23,540 shares worth about $3.1 million. Institutional investors collectively own 72.43% of CHCO.
• Analysts maintain a generally positive outlook, with City Holding carrying a consensus “Moderate Buy” rating and an average price target of $136.50; Hovde Group raised its target to $143.
• City Holding exceeded quarterly expectations, reporting $2.35 EPS versus $2.23 expected and revenue of $81.52 million. Shares opened at $143.96, near the company’s 52-week high, while executives recently reported stock sales.

WINTON GROUP Ltd lifted its stake in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 213.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,540 shares of the bank's stock after purchasing an additional 16,020 shares during the period. WINTON GROUP Ltd owned 0.17% of City worth $3,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CHCO. California State Teachers Retirement System raised its position in City by 16,985.5% during the second quarter. California State Teachers Retirement System now owns 2,293,213 shares of the bank's stock worth $304,172,000 after acquiring an additional 2,279,791 shares in the last quarter. BlackRock Inc. bought a new position in shares of City in the 2nd quarter valued at about $270,231,000. Bank of New York Mellon Corp acquired a new position in shares of City during the 2nd quarter worth about $15,012,000. Two Sigma Investments LP increased its stake in shares of City by 136.4% during the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank's stock worth $15,335,000 after purchasing an additional 71,436 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of City in the 2nd quarter valued at about $4,585,000. 72.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CHCO has been the subject of a number of research analyst reports. Weiss Ratings upgraded City from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, September 4th. Hovde Group raised their price objective on City from $135.00 to $143.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, City currently has a consensus rating of "Moderate Buy" and an average target price of $136.50.

Insider Buying and Selling at City

In other City news, Director Sharon H. Rowe sold 400 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $143.96, for a total value of $57,584.00. Following the transaction, the director directly owned 10,576 shares of the company's stock, valued at $1,522,520.96. This represents a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles Hageboeck sold 4,485 shares of City stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total value of $650,145.60. Following the sale, the chief executive officer directly owned 43,998 shares of the company's stock, valued at $6,377,950.08. This represents a 9.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased a total of 444 shares of company stock valued at $59,740 over the last 90 days. 1.75% of the stock is currently owned by corporate insiders.

City Stock Up 0.2%

Shares of CHCO opened at $143.96 on Friday. City Holding Company has a 52 week low of $113.21 and a 52 week high of $148.99. The firm has a market cap of $2.02 billion, a P/E ratio of 15.75 and a beta of 0.48. The firm's 50-day simple moving average is $141.96 and its 200 day simple moving average is $130.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The firm had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. On average, analysts forecast that City Holding Company will post 9.29 earnings per share for the current year.

About City

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

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