Barclays PLC Purchases 16,044 Shares of City Holding (NASDAQ:CHCO)

Barclays PLC raised its position in City Holding (NASDAQ:CHCO) by 125.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,845 shares of the bank’s stock after buying an additional 16,044 shares during the period. Barclays PLC owned 0.20% of City worth $3,385,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Alpha DNA Investment Management LLC purchased a new stake in shares of City during the second quarter valued at approximately $483,000. Charles Schwab Investment Management Inc. grew its stake in City by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock valued at $62,044,000 after purchasing an additional 15,910 shares during the period. Jane Street Group LLC increased its position in shares of City by 66.6% during the 3rd quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock valued at $2,937,000 after purchasing an additional 9,999 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of City by 137.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after purchasing an additional 6,312 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of City by 34.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,900 shares of the bank’s stock worth $340,000 after buying an additional 748 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

City Trading Down 0.3 %

Shares of CHCO opened at $121.05 on Tuesday. The firm has a market cap of $1.78 billion, a P/E ratio of 15.54 and a beta of 0.49. City Holding has a fifty-two week low of $97.50 and a fifty-two week high of $137.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day moving average of $125.69 and a 200 day moving average of $117.64.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. The firm had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. As a group, research analysts forecast that City Holding will post 7.84 EPS for the current year.

City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.79 per share. The ex-dividend date is Wednesday, January 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.61%. City’s dividend payout ratio is currently 40.56%.

Insider Transactions at City

In related news, CEO Charles R. Hageboeck sold 6,065 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the sale, the chief executive officer now owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. This represents a 11.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the transaction, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,092 shares of company stock valued at $1,196,697 over the last three months. Company insiders own 2.45% of the company’s stock.

Wall Street Analysts Forecast Growth

CHCO has been the subject of a number of research analyst reports. Piper Sandler restated a “neutral” rating and set a $135.00 price objective on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods raised their price target on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

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.