1,915 Shares in City Holding (NASDAQ:CHCO) Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC acquired a new stake in City Holding (NASDAQ:CHCO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,915 shares of the bank’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of City by 18.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,641 shares of the bank’s stock valued at $1,289,000 after buying an additional 1,639 shares during the period. Longboard Asset Management LP acquired a new stake in City in the fourth quarter worth about $211,000. DAVENPORT & Co LLC lifted its position in City by 4.1% during the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after purchasing an additional 176 shares during the period. KBC Group NV lifted its position in City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after purchasing an additional 317 shares during the period. Finally, Franklin Resources Inc. lifted its position in City by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Buying and Selling at City

In other news, EVP John A. Derito sold 1,243 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the transaction, the executive vice president now owns 28,757 shares in the company, valued at $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the transaction, the director now owns 1,014 shares of the company’s stock, valued at $122,187. This trade represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,299 shares of company stock valued at $297,174. Company insiders own 2.45% of the company’s stock.

Analyst Upgrades and Downgrades

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

City Price Performance

City stock opened at $119.05 on Friday. The firm has a market capitalization of $1.75 billion, a P/E ratio of 15.09 and a beta of 0.51. The business has a 50-day moving average of $120.36 and a 200-day moving average of $120.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a 1 year low of $97.50 and a 1 year high of $137.28.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. On average, equities analysts anticipate that City Holding will post 7.58 EPS for the current year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, January 15th. City’s payout ratio is presently 40.05%.

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.