City Holding Co. Reduces Holdings in City Holding Company $CHCO

City Holding Co. reduced its stake in City Holding Company (NASDAQ:CHCO) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,368 shares of the bank’s stock after selling 10,843 shares during the period. City accounts for approximately 3.6% of City Holding Co.’s holdings, making the stock its 2nd biggest position. City Holding Co.’s holdings in City were worth $31,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC boosted its stake in City by 4.2% during the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock valued at $238,000 after purchasing an additional 81 shares in the last quarter. ProShare Advisors LLC increased its position in shares of City by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 2,740 shares of the bank’s stock valued at $327,000 after purchasing an additional 81 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of City by 28.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after buying an additional 110 shares in the last quarter. R Squared Ltd raised its stake in shares of City by 6.6% in the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank’s stock worth $254,000 after buying an additional 132 shares in the last quarter. Finally, First Horizon Corp lifted its holdings in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after buying an additional 146 shares during the period. Institutional investors own 72.43% of the company’s stock.

City Stock Up 0.0%

Shares of City stock opened at $145.00 on Tuesday. City Holding Company has a 12-month low of $113.21 and a 12-month high of $147.57. The firm has a market capitalization of $2.04 billion, a PE ratio of 15.86 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $134.58 and its 200-day moving average is $127.06.

City (NASDAQ:CHCO) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. Equities analysts anticipate that City Holding Company will post 9.29 earnings per share for the current year.

City Dividend Announcement

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

Insiders Place Their Bets

In other City news, CEO Charles R. Hageboeck sold 4,485 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the completion of the transaction, the chief executive officer directly owned 43,998 shares in the company, valued at $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the chief financial officer directly owned 10,666 shares in the company, valued at approximately $1,327,917. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 444 shares of company stock worth $59,740 and sold 9,618 shares worth $1,289,673. Corporate insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CHCO. Weiss Ratings cut City from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Hovde Group boosted their price target on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research 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’s stock. According to MarketBeat.com, City has a consensus rating of “Hold” and a consensus target price of $136.50.

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.