Vanguard Group Inc. Has $196.84 Million Stake in City Holding (NASDAQ:CHCO)

Vanguard Group Inc. lifted its stake in shares of City Holding (NASDAQ:CHCO) by 0.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,785,222 shares of the bank’s stock after acquiring an additional 3,981 shares during the period. Vanguard Group Inc. owned 12.05% of City worth $196,839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of City during the fourth quarter valued at approximately $38,000. Federated Hermes Inc. lifted its stake in shares of City by 28.0% in the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after buying an additional 249 shares in the last quarter. CIC Wealth LLC acquired a new position in shares of City during the fourth quarter valued at about $210,000. Lido Advisors LLC bought a new stake in shares of City during the third quarter worth about $237,000. Finally, Alps Advisors Inc. increased its position in shares of City by 9.1% during the third quarter. Alps Advisors Inc. now owns 3,753 shares of the bank’s stock worth $339,000 after acquiring an additional 313 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHCO. Stephens cut their price target 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. Hovde Group upped their price target on City from $110.00 to $113.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $110.00 price target (up from $100.00) on shares of City in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, City has a consensus rating of “Hold” and a consensus price target of $106.75.

City Price Performance

Shares of NASDAQ CHCO opened at $106.89 on Wednesday. The company has a market capitalization of $1.58 billion, a PE ratio of 13.45 and a beta of 0.48. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $103.58 and its 200-day moving average price is $103.73. City Holding has a twelve month low of $86.56 and a twelve month high of $115.89.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.97 earnings per share (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 firm had revenue of $72.60 million during the quarter, compared to the consensus estimate of $71.45 million. On average, equities analysts anticipate that City Holding will post 7.65 EPS for the current year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, July 15th. This represents a $2.86 dividend on an annualized basis and a yield of 2.68%. City’s dividend payout ratio (DPR) is presently 35.97%.

Insiders Place Their Bets

In related news, Director James M. Parsons bought 400 shares of City stock in a transaction dated Thursday, May 30th. The stock was purchased at an average cost of $102.11 per share, with a total value of $40,844.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $51,055. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director James M. Parsons purchased 400 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $102.11 per share, with a total value of $40,844.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $51,055. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John A. Derito sold 1,362 shares of City stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $102.94, for a total value of $140,204.28. Following the completion of the sale, the executive vice president now directly owns 34,256 shares of the company’s stock, valued at approximately $3,526,312.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,821 shares of company stock valued at $1,130,250. Company 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.