Mirae Asset Global Investments Co. Ltd. Purchases 947 Shares of City Holding (NASDAQ:CHCO)

Mirae Asset Global Investments Co. Ltd. grew its position in City Holding (NASDAQ:CHCO) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,002 shares of the bank’s stock after purchasing an additional 947 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of City worth $1,051,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 113 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of City in the 3rd quarter valued at $59,000. Bessemer Group Inc. boosted its stake in City by 90.7% during the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after acquiring an additional 604 shares in the last quarter. SG Americas Securities LLC bought a new position in City during the first quarter worth $180,000. Finally, Intech Investment Management LLC bought a new position in City during the second quarter worth $208,000. 72.43% of the stock is owned by institutional investors.

City Stock Up 0.3 %

Shares of NASDAQ CHCO opened at $116.93 on Friday. The firm has a market cap of $1.72 billion, a PE ratio of 15.01 and a beta of 0.47. City Holding has a 12-month low of $92.49 and a 12-month high of $125.54. The company’s fifty day simple moving average is $117.17 and its 200 day simple moving average is $111.16. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO) last issued its 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. The business had revenue of $98.40 million for 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%. As a group, sell-side analysts forecast that City Holding will post 7.78 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a dividend of $0.79 per share. The ex-dividend date was Tuesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 2.70%. City’s dividend payout ratio is currently 40.56%.

Insider Buying and Selling at City

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the transaction, the director now directly owns 18,233 shares in the company, valued at $2,096,795. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

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.