Virtu Financial LLC Takes Position in City Holding (NASDAQ:CHCO)

Virtu Financial LLC acquired a new stake in shares of City Holding (NASDAQ:CHCO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,433 shares of the bank’s stock, valued at approximately $599,000.

Several other large investors also recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its position in City by 4.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 4,691 shares of the bank’s stock worth $517,000 after buying an additional 190 shares in the last quarter. Cerity Partners LLC lifted its position in City by 3.3% during the 4th quarter. Cerity Partners LLC now owns 7,239 shares of the bank’s stock valued at $799,000 after purchasing an additional 230 shares during the period. Federated Hermes Inc. lifted its position in City by 28.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after purchasing an additional 249 shares during the period. Alps Advisors Inc. lifted its position in City by 9.1% during the 3rd quarter. Alps Advisors Inc. now owns 3,753 shares of the bank’s stock valued at $339,000 after purchasing an additional 313 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in City during the 4th quarter valued at about $38,000. Institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

CHCO has been the subject of a number of research reports. Stephens lowered their target price on City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $110.00 target price (up from $100.00) on shares of City in a research note on Thursday, April 25th. Finally, Hovde Group increased their target price on City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, City currently has a consensus rating of “Hold” and a consensus target price of $106.75.

City Stock Up 1.3 %

CHCO opened at $102.66 on Tuesday. City Holding has a fifty-two week low of $86.56 and a fifty-two week high of $115.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $1.52 billion, a P/E ratio of 12.91 and a beta of 0.48. The stock has a fifty day moving average of $102.62 and a 200-day moving average of $103.58.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.13. City had a return on equity of 18.31% and a net margin of 33.78%. The business had revenue of $72.60 million during the quarter, compared to the consensus estimate of $71.45 million. On average, equities analysts expect that City Holding will post 7.65 EPS for the current year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, July 15th. City’s dividend payout ratio (DPR) is currently 35.97%.

Insider Transactions at City

In related news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of City stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the transaction, the executive vice president now directly owns 3,400 shares of the company’s stock, valued at $356,116. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director James M. Parsons purchased 400 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $102.11 per share, for a total transaction of $40,844.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $51,055. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the sale, the executive vice president now owns 3,400 shares of the company’s stock, valued at approximately $356,116. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,821 shares of company stock worth $1,130,250. Insiders own 2.39% 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.