Louisiana State Employees Retirement System Buys Shares of 7,400 City Holding (NASDAQ:CHCO)

Louisiana State Employees Retirement System bought a new stake in City Holding (NASDAQ:CHCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,400 shares of the bank's stock, valued at approximately $816,000.

Several other institutional investors also recently bought and sold shares of CHCO. Charles Schwab Investment Management Inc. lifted its position in City by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank's stock valued at $35,940,000 after purchasing an additional 16,123 shares during the period. SG Americas Securities LLC purchased a new stake in shares of City in the 3rd quarter valued at approximately $806,000. State Board of Administration of Florida Retirement System grew its stake in shares of City by 205.3% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 13,189 shares of the bank's stock valued at $1,192,000 after buying an additional 8,869 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of City in the 3rd quarter valued at approximately $762,000. Finally, Raymond James & Associates purchased a new stake in shares of City in the 4th quarter valued at approximately $610,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Stock Performance

Shares of City stock traded down $1.10 during trading on Friday, hitting $104.11. 36,449 shares of the stock were exchanged, compared to its average volume of 53,780. The stock's fifty day moving average is $101.82 and its 200 day moving average is $101.25. The stock has a market cap of $1.55 billion, a PE ratio of 13.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. City Holding has a 12 month low of $82.53 and a 12 month high of $115.89.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.06). City had a net margin of 33.78% and a return on equity of 18.31%. The business had revenue of $86.10 million during the quarter, compared to analyst estimates of $72.50 million. As a group, sell-side analysts anticipate that City Holding will post 7.59 EPS for the current year.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.86 dividend on an annualized basis and a yield of 2.75%. City's dividend payout ratio is currently 35.97%.

Insider Buying and Selling

In other news, EVP John A. Derito sold 1,309 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the sale, the executive vice president now owns 28,620 shares in the company, valued at $2,897,775. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other City news, EVP John A. Derito sold 1,309 shares of City stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares of the company's stock, valued at $2,897,775. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the transaction, the chief executive officer now directly owns 53,218 shares of the company's stock, valued at $5,375,018. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CHCO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $110.00 price objective (up from $100.00) on shares of City in a report on Thursday. Piper Sandler raised their price objective on shares of City from $103.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, February 1st. Finally, Stephens lowered their price objective on shares of City from $100.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Thursday.

City 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.