City Holding (NASDAQ:CHCO) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in City Holding (NASDAQ:CHCO) by 54.7% in the third quarter, HoldingsChannel.com reports. The fund owned 5,430 shares of the bank’s stock after buying an additional 1,919 shares during the quarter. BNP Paribas Financial Markets’ holdings in City were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of City during the third quarter valued at approximately $59,000. Crossmark Global Holdings Inc. acquired a new position in shares of City during the 3rd quarter valued at $199,000. Intech Investment Management LLC acquired a new stake in shares of City in the second quarter valued at $208,000. Quantbot Technologies LP bought a new position in City during the third quarter valued at about $214,000. Finally, Commonwealth Equity Services LLC grew its holdings in City by 4.5% during the second 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. 72.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at City

In other City news, EVP John A. Derito sold 1,243 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the transaction, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 6,065 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the sale, the chief executive officer now owns 44,974 shares in the company, valued at $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,092 shares of company stock worth $1,196,697. Corporate insiders own 2.39% of the company’s stock.

City Stock Performance

NASDAQ:CHCO opened at $129.10 on Friday. The firm’s 50-day moving average is $124.56 and its 200-day moving average is $116.47. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 16.57 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $73.90 million. Equities research analysts anticipate that City Holding will post 7.84 earnings per share for the current year.

City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Wednesday, January 15th. City’s dividend payout ratio is presently 40.56%.

City Company Profile

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.