City Holding (NASDAQ:CHCO) Stock Holdings Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of City Holding (NASDAQ:CHCO) by 10.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,366 shares of the bank’s stock after purchasing an additional 131 shares during the quarter. PNC Financial Services Group Inc.’s holdings in City were worth $162,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock worth $65,253,000 after purchasing an additional 22,226 shares in the last quarter. Barclays PLC boosted its holdings in City by 125.3% during the third quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after buying an additional 16,044 shares in the last quarter. Jane Street Group LLC grew its position in City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock worth $2,937,000 after buying an additional 9,999 shares during the last quarter. Polaris Capital Management LLC increased its holdings in shares of City by 71.6% in the fourth quarter. Polaris Capital Management LLC now owns 13,895 shares of the bank’s stock valued at $1,646,000 after buying an additional 5,800 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of City during the 4th quarter valued at $662,000. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CHCO has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price target 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 Trading Up 0.4 %

NASDAQ CHCO opened at $118.12 on Monday. The firm’s 50 day moving average price is $118.05 and its two-hundred day moving average price is $120.53. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 14.97 and a beta of 0.48. City Holding has a twelve month low of $97.50 and a twelve month 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.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 year.

Insider Buying and Selling at City

In related news, CFO David L. Bumgarner sold 556 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the sale, the chief financial officer now directly owns 9,395 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the transaction, the director now owns 1,014 shares in the company, valued at $122,187. This trade represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,226 shares of company stock valued at $147,200 in the last 90 days. 2.45% of the stock is currently owned by corporate insiders.

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.