Rhumbline Advisers Sells 2,252 Shares of City Holding (NASDAQ:CHCO)

Rhumbline Advisers lowered its stake in City Holding (NASDAQ:CHCO) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,081 shares of the bank’s stock after selling 2,252 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of City worth $5,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in City by 11.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,002 shares of the bank’s stock valued at $1,051,000 after buying an additional 947 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of City by 16.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,794 shares of the bank’s stock valued at $328,000 after acquiring an additional 400 shares in the last quarter. QRG Capital Management Inc. grew its position in City by 18.6% during the 3rd quarter. QRG Capital Management Inc. now owns 4,109 shares of the bank’s stock worth $482,000 after acquiring an additional 644 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in City during the 3rd quarter worth $199,000. Finally, Victory Capital Management Inc. increased its holdings in City by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock worth $1,018,000 after purchasing an additional 137 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at City

In other City news, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the sale, the chief financial officer now owns 9,395 shares of the company’s stock, valued at approximately $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the transaction, the director now directly owns 1,014 shares in the company, valued at $122,187. The trade was a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.39% of the company’s stock.

City Price Performance

City stock opened at $117.61 on Friday. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 14.91 and a beta of 0.51. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28. 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 stock’s 50 day moving average price is $118.79 and its two-hundred day moving average price is $120.37.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 predict that City Holding will post 7.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CHCO. Keefe, Bruyette & Woods boosted their target price on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler cut their price target 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.

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.