Mirae Asset Global Investments Co. Ltd. Acquires 1,639 Shares of City Holding (NASDAQ:CHCO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of City Holding (NASDAQ:CHCO) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,641 shares of the bank’s stock after acquiring an additional 1,639 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of City worth $1,289,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of City by 20.9% during the second quarter. AQR Capital Management LLC now owns 4,038 shares of the bank’s stock worth $429,000 after purchasing an additional 697 shares during the period. The Manufacturers Life Insurance Company grew its position in City by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock worth $792,000 after buying an additional 285 shares in the last quarter. SG Americas Securities LLC bought a new position in City during the 3rd quarter worth $579,000. Inspire Investing LLC raised its holdings in City by 6.8% in the 3rd 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. Finally, nVerses Capital LLC bought a new stake in shares of City during the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

Analyst Ratings Changes

CHCO has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Insiders Place Their Bets

In other City 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 value of $788,631.95. Following the completion of the transaction, the chief executive officer now directly owns 44,974 shares in the company, valued at approximately $5,847,969.22. This represents a 11.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the transaction, the director now owns 1,014 shares in the company, valued at approximately $122,187. This trade represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,364 shares of company stock valued at $1,085,806. 2.45% of the stock is currently owned by insiders.

City Trading Up 1.6 %

Shares of CHCO opened at $120.39 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 15.26 and a beta of 0.51. The business’s fifty day moving average is $121.09 and its 200-day moving average is $120.22.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. Equities analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a $0.79 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.62%. City’s dividend payout ratio is currently 40.05%.

City 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.