Centiva Capital LP Makes New $295,000 Investment in City Holding (NASDAQ:CHCO)

Centiva Capital LP bought a new position in shares of City Holding (NASDAQ:CHCO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,516 shares of the bank’s stock, valued at approximately $295,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in shares of City by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock worth $226,000 after acquiring an additional 91 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of City by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock worth $786,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC increased its holdings in shares of City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after acquiring an additional 113 shares during the period. Victory Capital Management Inc. increased its holdings in shares of City by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock worth $1,018,000 after acquiring an additional 137 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of City by 6.8% in the 3rd quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock worth $410,000 after acquiring an additional 222 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

City Stock Performance

Shares of CHCO opened at $128.87 on Wednesday. The firm has a 50-day moving average price of $123.92 and a 200 day moving average price of $116.28. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.54 and a beta of 0.49. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28.

City (NASDAQ:CHCO) last announced its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The firm had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, sell-side analysts anticipate that City Holding will post 7.84 earnings per share for the current fiscal 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 given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.45%. City’s dividend payout ratio (DPR) is 40.56%.

Insider Activity

In other news, Director C Dallas Kayser sold 1,784 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the transaction, the director now owns 23,637 shares in the company, valued at approximately $3,151,521.21. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the transaction, the executive vice president now owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,092 shares of company stock worth $1,196,697. Corporate insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

CHCO has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price objective on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their target price on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

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.