Rhumbline Advisers Trims Holdings in City Holding (NASDAQ:CHCO)

Rhumbline Advisers cut its stake in City Holding (NASDAQ:CHCO) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,058 shares of the bank’s stock after selling 884 shares during the period. Rhumbline Advisers owned 0.33% of City worth $5,212,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Leeward Investments LLC MA grew its stake in City by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock worth $9,452,000 after buying an additional 4,725 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in City during the first quarter worth approximately $1,133,000. Zhang Financial LLC acquired a new position in shares of City during the 2nd quarter valued at $401,000. QRG Capital Management Inc. lifted its holdings in shares of City by 21.4% in the fourth quarter. QRG Capital Management Inc. now owns 3,908 shares of the bank’s stock valued at $431,000 after buying an additional 688 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of City by 10.6% during the 4th quarter. Russell Investments Group Ltd. now owns 9,809 shares of the bank’s stock valued at $1,082,000 after purchasing an additional 937 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

City Stock Performance

Shares of CHCO opened at $118.01 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 14.84 and a beta of 0.47. City Holding has a one year low of $86.56 and a one year high of $125.54. The company has a 50-day moving average of $116.07 and a two-hundred day moving average of $107.50.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. City had a net margin of 32.12% and a return on equity of 17.42%. The business had revenue of $94.90 million during the quarter, compared to analyst estimates of $73.20 million. On average, equities research analysts expect that City Holding will post 7.73 earnings per share for the current year.

Insider Activity at City

In other City news, CEO Charles R. Hageboeck sold 7,244 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the sale, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $231,240. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 7,244 shares of City stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now directly owns 45,974 shares in the company, valued at $5,683,305.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,413 shares of company stock worth $1,149,561. 2.45% of the stock is owned by 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.