Crossmark Global Holdings Inc. Buys New Holdings in City Holding (NASDAQ:CHCO)

Crossmark Global Holdings Inc. acquired a new stake in shares of City Holding (NASDAQ:CHCO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,701 shares of the bank’s stock, valued at approximately $199,000.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in City by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after purchasing an additional 91 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of City by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after buying an additional 100 shares during the period. GAMMA Investing LLC boosted its stake in shares of City by 95.8% in the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after buying an additional 113 shares during the last quarter. ProShare Advisors LLC grew its holdings in City by 5.9% during the first quarter. ProShare Advisors LLC now owns 2,955 shares of the bank’s stock worth $308,000 after acquiring an additional 165 shares during the period. Finally, Inspire Investing LLC raised its position in City by 6.8% during the third quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock valued at $410,000 after acquiring an additional 222 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Price Performance

Shares of City stock opened at $128.81 on Tuesday. The firm has a market cap of $1.89 billion, a PE ratio of 16.54 and a beta of 0.46. The business has a 50-day moving average price of $119.62 and a 200 day moving average price of $113.30. 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 announced its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The firm had revenue of $98.40 million for 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%. Sell-side analysts predict that City Holding will post 7.84 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Tuesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio is 40.56%.

Wall Street Analyst Weigh In

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

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the transaction, the chief executive officer now directly owns 44,974 shares in the company, valued at approximately $5,847,969.22. The trade was a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director C Dallas Kayser sold 1,784 shares of the company’s 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 sale, the director now directly owns 23,637 shares of the company’s stock, valued at approximately $3,151,521.21. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by corporate 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.