City Holding (NASDAQ:CHCO) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of City Holding (NASDAQ:CHCO) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 355,940 shares of the bank’s stock after buying an additional 1,065 shares during the quarter. Geode Capital Management LLC’s holdings in City were worth $41,792,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CHCO. Dimensional Fund Advisors LP raised its stake in shares of City by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock worth $58,542,000 after purchasing an additional 10,740 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in City by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock valued at $62,044,000 after acquiring an additional 15,910 shares in the last quarter. American Century Companies Inc. lifted its stake in City by 6.0% in the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after acquiring an additional 4,989 shares during the last quarter. Public Sector Pension Investment Board grew its position in City by 7.1% in the second quarter. Public Sector Pension Investment Board now owns 32,497 shares of the bank’s stock worth $3,453,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after purchasing an additional 16,044 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Stock Up 0.8 %

CHCO stock opened at $122.07 on Wednesday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 15.67 and a beta of 0.49. The company has a 50-day moving average of $125.77 and a two-hundred day moving average of $117.91. City Holding has a 52-week low of $97.50 and a 52-week 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.

City (NASDAQ:CHCO) last announced 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. City had a return on equity of 16.60% and a net margin of 31.18%. The firm had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. As a group, equities research analysts anticipate that City Holding will post 7.84 EPS for the current year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.16 annualized dividend and a yield of 2.59%. City’s dividend payout ratio (DPR) is 40.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods upped their price target on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In other news, EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of 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 trade represents a 4.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 6,065 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the sale, the chief executive officer now directly owns 44,974 shares in the company, valued at approximately $5,847,969.22. The trade was a 11.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,092 shares of company stock worth $1,196,697. 2.39% of the stock is currently owned by company insiders.

City Company 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.