New York State Teachers Retirement System Lowers Stock Position in City Holding (NASDAQ:CHCO)

New York State Teachers Retirement System reduced its stake in shares of City Holding (NASDAQ:CHCO) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,213 shares of the bank’s stock after selling 860 shares during the period. New York State Teachers Retirement System owned 0.16% of City worth $2,869,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CHCO. KBC Group NV raised its stake 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. Point72 DIFC Ltd bought a new stake in City in the 3rd quarter worth approximately $134,000. Crossmark Global Holdings Inc. bought a new stake in City in the 3rd quarter worth approximately $199,000. Longboard Asset Management LP bought a new stake in City in the 4th quarter worth approximately $211,000. Finally, Quantbot Technologies LP bought a new stake in City in the 3rd quarter worth approximately $214,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles W. Fairchilds sold 500 shares of the business’s 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 completion of the transaction, the director now owns 1,014 shares in the company, valued at $122,187. The trade was a 33.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Derito sold 1,243 shares of the business’s stock in a transaction 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 transaction, the executive vice president now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,299 shares of company stock valued at $297,174. 2.45% of the stock is currently owned by insiders.

City Stock Performance

NASDAQ CHCO opened at $117.19 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of 14.85 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50 day moving average price is $119.36 and its 200-day moving average price is $120.23. City Holding has a fifty-two week low of $97.50 and a fifty-two week high of $137.28.

City (NASDAQ:CHCO) last released its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating 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%. Sell-side analysts predict that City Holding will post 7.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price objective on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th.

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.