Victory Capital Management Inc. Increases Stake in City Holding (NASDAQ:CHCO)

Victory Capital Management Inc. boosted its position in shares of City Holding (NASDAQ:CHCO) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,676 shares of the bank’s stock after purchasing an additional 137 shares during the period. Victory Capital Management Inc.’s holdings in City were worth $1,018,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CHCO. Nicholson Wealth Management Group LLC bought a new position in City during the 3rd quarter valued at about $1,449,000. Dimensional Fund Advisors LP lifted its stake in City by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after acquiring an additional 10,740 shares during the period. Squarepoint Ops LLC lifted its stake in City by 137.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock valued at $1,158,000 after acquiring an additional 6,312 shares during the period. American Century Companies Inc. lifted its stake in City by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after acquiring an additional 4,989 shares during the period. Finally, SG Americas Securities LLC bought a new position in City during the 3rd quarter valued at about $579,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated a “neutral” rating and set a $135.00 target price on shares of City in a research note on Friday, November 8th.

Insider Transactions at City

In related news, CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the sale, the chief executive officer now directly owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. This represents a 11.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Derito sold 1,243 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the sale, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,092 shares of company stock worth $1,196,697 in the last quarter. Company insiders own 2.45% of the company’s stock.

City Price Performance

Shares of NASDAQ:CHCO opened at $132.12 on Thursday. The firm’s 50 day moving average price is $121.30 and its 200-day moving average price is $114.36. City Holding has a twelve month low of $95.39 and a twelve month high of $137.28. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.94 billion, a PE ratio of 17.11 and a beta of 0.46.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. City had a net margin of 31.18% and a return on equity of 16.60%. The firm had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $73.90 million. Equities research analysts expect that City Holding will post 7.84 EPS for the current year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s dividend payout ratio (DPR) is presently 40.56%.

About City

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.