Arizona State Retirement System Reduces Holdings in City Holding (CHCO)
Arizona State Retirement System decreased its holdings in City Holding (NASDAQ:CHCO) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,440 shares of the bank’s stock after selling 2,009 shares during the period. Arizona State Retirement System owned about 0.15% of City worth $1,688,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of CHCO. UBS Group AG grew its stake in shares of City by 79.1% in the first quarter. UBS Group AG now owns 1,734 shares of the bank’s stock worth $119,000 after acquiring an additional 766 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of City in the first quarter worth $233,000. Crossmark Global Holdings Inc. purchased a new stake in shares of City during the 2nd quarter worth $233,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of City during the 2nd quarter worth $246,000. Finally, SG Americas Securities LLC purchased a new stake in shares of City during the 2nd quarter worth $258,000. Institutional investors and hedge funds own 67.81% of the company’s stock.
In related news, CEO Charles R. Hageboeck sold 3,986 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $81.00, for a total value of $322,866.00. Following the completion of the sale, the chief executive officer now directly owns 65,959 shares of the company’s stock, valued at $5,342,679. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Craig G. Stilwell sold 2,825 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $82.70, for a total transaction of $233,627.50. Following the completion of the sale, the executive vice president now directly owns 23,942 shares of the company’s stock, valued at $1,980,003.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,156 shares of company stock valued at $748,892. 3.83% of the stock is owned by corporate insiders.
City stock opened at $80.30 on Friday. The firm has a market cap of $1.25 billion, a PE ratio of 20.38, a PEG ratio of 2.07 and a beta of 0.60. City Holding has a 12-month low of $60.92 and a 12-month high of $83.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90.
City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, July 26th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.22. City had a net margin of 29.49% and a return on equity of 13.85%. The business had revenue of $49.18 million during the quarter, compared to analysts’ expectations of $48.59 million. sell-side analysts forecast that City Holding will post 4.88 earnings per share for the current year.
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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