nVerses Capital LLC Purchases New Position in City Holding (NASDAQ:CHCO)

nVerses Capital LLC acquired a new position in shares of City Holding (NASDAQ:CHCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 500 shares of the bank’s stock, valued at approximately $59,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its position in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after acquiring an additional 113 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of City by 90.7% in the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after buying an additional 604 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of City in the first quarter valued at about $180,000. Intech Investment Management LLC acquired a new position in City during the 2nd quarter worth about $208,000. Finally, Commonwealth Equity Services LLC grew its holdings in City by 4.5% during the 2nd 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 last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Buying and Selling

In other City news, Director J. Thomas Jones sold 569 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $122.47, for a total transaction of $69,685.43. Following the completion of the sale, the director now directly owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other City news, Director J. Thomas Jones sold 569 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $122.47, for a total value of $69,685.43. Following the transaction, the director now directly owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 7,244 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $123.62, for a total transaction of $895,503.28. Following the sale, the chief executive officer now owns 45,974 shares of the company’s stock, valued at $5,683,305.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,413 shares of company stock worth $1,149,561 over the last three months. 2.45% of the stock is currently owned by company insiders.

City Trading Down 3.2 %

Shares of NASDAQ CHCO opened at $115.50 on Tuesday. City Holding has a 1-year low of $86.56 and a 1-year high of $125.54. The company has a 50-day moving average of $116.63 and a two-hundred day moving average of $110.16. The company has a market cap of $1.71 billion, a PE ratio of 14.53 and a beta of 0.47. 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 (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. The firm had revenue of $94.90 million during the quarter, compared to analysts’ expectations of $73.20 million. City had a net margin of 32.12% and a return on equity of 17.42%. As a group, equities analysts expect that City Holding will post 7.73 earnings per share for the current fiscal year.

City Increases Dividend

The company 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 annualized dividend and a yield of 2.74%. City’s dividend payout ratio (DPR) is currently 39.75%.

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.