Jane Street Group LLC Has $2.94 Million Holdings in City Holding (NASDAQ:CHCO)

Jane Street Group LLC increased its holdings in City Holding (NASDAQ:CHCO) by 66.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,017 shares of the bank’s stock after buying an additional 9,999 shares during the period. Jane Street Group LLC owned 0.17% of City worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in City by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after acquiring an additional 100 shares in the last quarter. Commonwealth Equity Services LLC lifted its position 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 purchasing an additional 91 shares during the period. Victory Capital Management Inc. grew its stake in City by 6.4% during the second quarter. Victory Capital Management Inc. now owns 8,539 shares of the bank’s stock worth $907,000 after buying an additional 513 shares in the last quarter. Quest Partners LLC increased its holdings in City by 16.3% in the 2nd quarter. Quest Partners LLC now owns 7,538 shares of the bank’s stock valued at $801,000 after buying an additional 1,055 shares during the period. Finally, American Century Companies Inc. raised its position in shares of City by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after buying an additional 4,989 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares in the company, valued at $3,151,521.21. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the transaction, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at approximately $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 sold 9,092 shares of company stock valued at $1,196,697 over the last quarter. 2.45% of the stock is owned by company insiders.

City Price Performance

CHCO stock opened at $121.39 on Friday. City Holding has a 1 year low of $97.50 and a 1 year high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 15.58 and a beta of 0.49. The company has a 50 day simple moving average of $125.63 and a 200 day simple moving average of $117.29.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The company had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. Research analysts anticipate that City Holding will post 7.84 EPS for the current fiscal year.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s dividend payout ratio (DPR) is currently 40.56%.

Wall Street Analysts Forecast Growth

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

City 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.