Amalgamated Bank Sells 146 Shares of City Holding (NASDAQ:CHCO)

Amalgamated Bank reduced its stake in City Holding (NASDAQ:CHCO) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,364 shares of the bank’s stock after selling 146 shares during the quarter. Amalgamated Bank’s holdings in City were worth $512,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares during the period. nVerses Capital LLC purchased a new stake in City in the 3rd quarter worth $59,000. Bessemer Group Inc. increased its stake in City by 90.7% in the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after buying an additional 604 shares in the last quarter. SG Americas Securities LLC purchased a new stake in City in the 1st quarter worth $180,000. Finally, Intech Investment Management LLC purchased a new stake in City in the 2nd quarter worth $208,000. 72.43% of the stock is owned by institutional investors.

City Trading Down 0.4 %

Shares of City stock opened at $130.24 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 16.72 and a beta of 0.46. The business has a 50-day moving average price of $119.35 and a 200-day moving average price of $113.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. City Holding has a twelve month low of $95.39 and a twelve month high of $136.51.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The firm had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. Equities research analysts anticipate that City Holding will post 7.84 EPS for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.79 per share. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.43%. City’s dividend payout ratio (DPR) is presently 40.56%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated a “neutral” rating and issued a $135.00 price target on shares of City in a research note on Friday, November 8th.

Insider Activity

In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the completion of the transaction, the executive vice president now owns 2,000 shares of the company’s stock, valued at approximately $231,240. This trade represents a 23.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the transaction, the director now directly owns 23,637 shares of the company’s stock, valued at approximately $3,151,521.21. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.45% 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.