MQS Management LLC Invests $521,000 in City Holding Company $CHCO

MQS Management LLC bought a new stake in shares of City Holding Company (NASDAQ:CHCO) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,202 shares of the bank’s stock, valued at approximately $521,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after buying an additional 198 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in City by 463.2% during the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $52,000 after acquiring an additional 352 shares in the last quarter. CWM LLC lifted its holdings in City by 45.9% in the third quarter. CWM LLC now owns 467 shares of the bank’s stock valued at $58,000 after acquiring an additional 147 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of City by 28.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after purchasing an additional 110 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in shares of City during the 1st quarter valued at approximately $104,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Down 1.0%

Shares of CHCO opened at $126.21 on Thursday. The stock has a 50 day moving average price of $123.64 and a 200 day moving average price of $123.15. City Holding Company has a one year low of $102.22 and a one year high of $133.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.12 and a beta of 0.52.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The business had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. Equities research analysts forecast that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, January 15th. City’s dividend payout ratio (DPR) is 38.93%.

Insider Buying and Selling at City

In related news, CEO Charles R. Hageboeck sold 2,017 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $120.68, for a total value of $243,411.56. Following the completion of the sale, the chief executive officer owned 50,359 shares of the company’s stock, valued at approximately $6,077,324.12. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHCO. Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Piper Sandler increased their target price on City from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, City has a consensus rating of “Hold” and an average price target of $134.50.

City Profile

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.