Healthcare of Ontario Pension Plan Trust Fund Sells 16,830 Shares of City Holding Company $CHCO

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in City Holding Company (NASDAQ:CHCO) by 93.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,262 shares of the bank’s stock after selling 16,830 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in City were worth $151,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in City by 35.2% in the 1st quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock worth $7,374,000 after purchasing an additional 16,060 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the period. Virtu Financial LLC purchased a new stake in shares of City during the fourth quarter valued at approximately $1,353,000. Dimensional Fund Advisors LP grew its holdings in shares of City by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after purchasing an additional 8,992 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of City in the first quarter worth approximately $765,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO David L. Bumgarner sold 1,161 shares of City stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total transaction of $144,544.50. Following the sale, the chief financial officer directly owned 10,666 shares in the company, valued at $1,327,917. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 4,485 shares of the company’s 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 completion of the sale, the chief executive officer directly owned 43,998 shares in the company, valued at approximately $6,377,950.08. The trade was a 9.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have bought 544 shares of company stock worth $71,900 and have sold 10,020 shares worth $1,339,923. Company insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

CHCO has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. Hovde Group raised their price target on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $136.50.

City Stock Performance

NASDAQ:CHCO opened at $145.11 on Monday. The company has a 50-day moving average price of $132.08 and a 200-day moving average price of $126.10. City Holding Company has a 12 month low of $113.21 and a 12 month high of $146.66. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 15.88 and a beta of 0.49.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.38%. The company had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. Equities analysts predict that City Holding Company will post 9.29 EPS for the current year.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. City’s payout ratio is presently 38.07%.

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.