KLP Kapitalforvaltning AS Acquires New Holdings in City Holding (NASDAQ:CHCO)

KLP Kapitalforvaltning AS bought a new position in shares of City Holding (NASDAQ:CHCO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,100 shares of the bank’s stock, valued at approximately $367,000.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in City by 3.2% during the 4th quarter. American Century Companies Inc. now owns 92,244 shares of the bank’s stock worth $10,929,000 after acquiring an additional 2,903 shares in the last quarter. Quantbot Technologies LP increased its stake in City by 21.0% during the fourth quarter. Quantbot Technologies LP now owns 2,207 shares of the bank’s stock worth $261,000 after purchasing an additional 383 shares during the period. Virtu Financial LLC acquired a new stake in shares of City during the fourth quarter worth about $862,000. Teacher Retirement System of Texas boosted its stake in shares of City by 18.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,039 shares of the bank’s stock valued at $1,189,000 after purchasing an additional 1,537 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of City by 135.9% in the fourth quarter. Intech Investment Management LLC now owns 5,291 shares of the bank’s stock valued at $627,000 after purchasing an additional 3,048 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price objective on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th.

Insider Activity

In other City news, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $120.00, for a total transaction of $66,720.00. Following the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the director now directly owns 1,014 shares of the company’s stock, 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. In the last 90 days, insiders have sold 1,226 shares of company stock worth $147,200. 2.45% of the stock is currently owned by insiders.

City Stock Down 0.2 %

Shares of City stock opened at $112.43 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28. The company has a market capitalization of $1.65 billion, a P/E ratio of 14.25 and a beta of 0.48. The company has a 50 day moving average of $117.82 and a 200 day moving average of $120.56.

City (NASDAQ:CHCO) last announced its quarterly earnings data 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 net margin of 30.83% and a return on equity of 16.49%. As a group, research analysts forecast that City Holding will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.79 per share. The ex-dividend date is Tuesday, April 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.81%. City’s dividend payout ratio is currently 40.05%.

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.