Crossmark Global Holdings Inc. Makes New $199,000 Investment in City Holding (NASDAQ:CHCO)

Crossmark Global Holdings Inc. purchased a new stake in shares of City Holding (NASDAQ:CHCO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,701 shares of the bank’s stock, valued at approximately $199,000.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 113 shares during the last quarter. nVerses Capital LLC purchased a new position in City in the third quarter worth approximately $59,000. Bessemer Group Inc. raised its position in City by 90.7% in the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after purchasing an additional 604 shares during the period. SG Americas Securities LLC acquired a new position in shares of City in the 1st quarter valued at $180,000. Finally, Intech Investment Management LLC purchased a new position in shares of City during the 2nd quarter worth $208,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler restated a “neutral” rating and issued a $135.00 price objective on shares of City in a report on Friday, November 8th.

City Trading Down 1.1 %

CHCO opened at $128.81 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.89 billion, a P/E ratio of 16.54 and a beta of 0.46. City Holding has a 52 week low of $95.39 and a 52 week high of $136.51. The business has a fifty day simple moving average of $119.62 and a 200-day simple moving average of $113.30.

City (NASDAQ:CHCO) last released its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.10. The company had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. On average, equities analysts expect that City Holding will post 7.84 earnings per share for the current year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued 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 dividend on an annualized basis and a yield of 2.45%. City’s dividend payout ratio is 40.56%.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the transaction, the chief executive officer now directly owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. The trade was a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Dallas Kayser sold 1,784 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares in the company, valued at approximately $3,151,521.21. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

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.