City Holding (NASDAQ:CHCO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in City Holding (NASDAQ:CHCO) by 62.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,688 shares of the bank’s stock after selling 11,100 shares during the quarter. Renaissance Technologies LLC’s holdings in City were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of City by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock worth $58,542,000 after acquiring an additional 10,740 shares during the period. American Century Companies Inc. raised its stake in shares of City by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after buying an additional 4,989 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of City by 16.3% in the 2nd quarter. Quest Partners LLC now owns 7,538 shares of the bank’s stock valued at $801,000 after buying an additional 1,055 shares during the period. Victory Capital Management Inc. boosted its stake in shares of City by 6.4% in the second quarter. Victory Capital Management Inc. now owns 8,539 shares of the bank’s stock worth $907,000 after buying an additional 513 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in City by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock worth $226,000 after acquiring an additional 91 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Down 0.2 %

Shares of CHCO stock opened at $114.13 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. City Holding has a twelve month low of $86.56 and a twelve month high of $125.54. The stock has a 50 day moving average of $115.95 and a 200 day moving average of $109.24. The stock has a market cap of $1.68 billion, a P/E ratio of 14.36 and a beta of 0.47.

City (NASDAQ:CHCO) last announced 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 firm had revenue of $94.90 million for the quarter, compared to the consensus estimate of $73.20 million. As a group, sell-side analysts expect that City Holding will post 7.73 EPS for the current year.

City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $0.79 dividend. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.77%. City’s dividend payout ratio is presently 39.75%.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 7,244 shares of the company’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 transaction of $895,503.28. Following the completion of the transaction, the chief executive officer now directly owns 45,974 shares of the company’s stock, valued at $5,683,305.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $231,240. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 7,244 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 45,974 shares in the company, valued at approximately $5,683,305.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,413 shares of company stock worth $1,149,561. 2.45% of the stock is owned by corporate 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.