City Holding (NASDAQ:CHCO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of City Holding (NASDAQ:CHCO) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,390 shares of the bank’s stock after selling 278 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of City worth $984,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CHCO. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of City in the first quarter valued at approximately $1,133,000. BNP Paribas Financial Markets grew its position in shares of City by 48.5% in the first quarter. BNP Paribas Financial Markets now owns 7,260 shares of the bank’s stock valued at $757,000 after purchasing an additional 2,370 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of City by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank’s stock valued at $1,350,000 after purchasing an additional 140 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of City in the first quarter valued at approximately $180,000. Finally, Russell Investments Group Ltd. grew its position in shares of City by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 10,459 shares of the bank’s stock valued at $1,090,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Price Performance

CHCO stock opened at $118.29 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.80. The business has a 50 day simple moving average of $117.11 and a 200-day simple moving average of $111.45. The firm has a market capitalization of $1.74 billion, a PE ratio of 15.18 and a beta of 0.46. City Holding has a 1 year low of $92.76 and a 1 year high of $125.54.

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, beating analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. Equities research analysts anticipate that City Holding will post 7.78 earnings per share for the current fiscal year.

City Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.67%. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, October 15th. City’s dividend payout ratio is presently 40.56%.

Insider Buying and Selling

In related news, Director James L. Rossi sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 18,233 shares in the company, valued at approximately $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other City news, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the transaction, the director now directly owns 18,233 shares in the company, valued at $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the transaction, the executive vice president now owns 2,000 shares in the company, valued at $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.39% of the stock is currently owned by company insiders.

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.