Squarepoint Ops LLC Increases Stock Holdings in City Holding (NASDAQ:CHCO)

Squarepoint Ops LLC increased its holdings in City Holding (NASDAQ:CHCO) by 137.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,901 shares of the bank’s stock after buying an additional 6,312 shares during the period. Squarepoint Ops LLC owned about 0.07% of City worth $1,158,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in City by 95.8% during the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after acquiring an additional 113 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after purchasing an additional 604 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of City during the 1st quarter worth approximately $180,000. Intech Investment Management LLC purchased a new stake in City in the 2nd quarter valued at approximately $208,000. Finally, Commonwealth Equity Services LLC grew its holdings in City by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after buying an additional 91 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

City Stock Performance

City stock opened at $114.66 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80. City Holding has a fifty-two week low of $86.56 and a fifty-two week high of $125.54. The stock has a fifty day moving average of $116.24 and a two-hundred day moving average of $108.98. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 14.42 and a beta of 0.47.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The firm had revenue of $94.90 million during the quarter, compared to analysts’ expectations of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. On average, analysts anticipate that City Holding will post 7.73 EPS for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.72. City’s payout ratio is currently 39.75%.

Insider Activity at City

In other City news, CEO Charles R. Hageboeck sold 7,244 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total value of $895,503.28. Following the completion of the transaction, the chief executive officer now directly owns 45,974 shares in the company, valued at approximately $5,683,305.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other City news, CEO Charles R. Hageboeck sold 7,244 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now directly owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J. Thomas Jones sold 569 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $122.47, for a total transaction of $69,685.43. Following the transaction, the director now directly owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,413 shares of company stock valued at $1,149,561. Company insiders own 2.45% of the company’s stock.

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.