City Holding (NASDAQ:CHCO) Position Cut by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC decreased its position in shares of City Holding (NASDAQ:CHCO) by 22.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,009 shares of the bank’s stock after selling 1,781 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in City were worth $638,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after acquiring an additional 113 shares during the period. Bessemer Group Inc. grew its stake in shares of City by 90.7% in the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after purchasing an additional 604 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of City during the first quarter valued at $180,000. Intech Investment Management LLC bought a new stake in shares of City during the second quarter valued at about $208,000. Finally, Commonwealth Equity Services LLC lifted its holdings in City by 4.5% in 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. Institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In other City news, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the sale, the director now directly owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles R. Hageboeck sold 7,244 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total transaction of $895,503.28. Following the completion of the sale, the chief executive officer now directly owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the sale, the director now directly owns 18,233 shares in the company, valued at $2,096,795. The disclosure for this sale can be found here. Insiders sold 9,413 shares of company stock valued at $1,149,561 over the last 90 days. 2.45% of the stock is currently owned by corporate insiders.

City Stock Up 0.2 %

City stock opened at $116.70 on Friday. City Holding has a 52 week low of $86.56 and a 52 week high of $125.54. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.68 and a beta of 0.47. The company’s 50-day moving average price is $116.94 and its two-hundred day moving average price is $108.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last announced its earnings results on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.88 by $0.08. The firm had revenue of $94.90 million for the quarter, compared to analysts’ expectations of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. On average, analysts expect that City Holding will post 7.73 EPS for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.79 dividend. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.71%. City’s dividend payout ratio is 35.97%.

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.