The Manufacturers Life Insurance Company Purchases 285 Shares of City Holding (NASDAQ:CHCO)

The Manufacturers Life Insurance Company raised its holdings in City Holding (NASDAQ:CHCO) by 4.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,455 shares of the bank’s stock after buying an additional 285 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of City worth $792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CHCO. AQR Capital Management LLC lifted its holdings in City by 20.9% during the second quarter. AQR Capital Management LLC now owns 4,038 shares of the bank’s stock valued at $429,000 after purchasing an additional 697 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in City during the 2nd quarter worth approximately $483,000. Squarepoint Ops LLC grew its position in shares of City by 137.5% during the second quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after buying an additional 6,312 shares in the last quarter. Public Sector Pension Investment Board raised its stake in City by 7.1% in the second quarter. Public Sector Pension Investment Board now owns 32,497 shares of the bank’s stock valued at $3,453,000 after buying an additional 2,160 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of City in the 2nd quarter valued at $208,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at City

In other City news, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the sale, the director now owns 18,233 shares of the company’s stock, valued at $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Charles R. Hageboeck sold 7,244 shares of City 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 sale, the chief executive officer now owns 45,974 shares of the company’s stock, valued at $5,683,305.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the transaction, the director now directly owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. 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. Insiders own 2.45% of the company’s stock.

City Price Performance

CHCO stock opened at $119.24 on Tuesday. The business has a 50 day simple moving average of $116.00 and a 200-day simple moving average of $109.65. The company has a market capitalization of $1.76 billion, a P/E ratio of 15.00 and a beta of 0.47. City Holding has a twelve month low of $86.56 and a twelve month high of $125.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The company 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%. As a group, equities analysts anticipate that City Holding will post 7.73 EPS for the current year.

City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.79 per share. This is a positive change from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, October 15th. City’s dividend payout ratio is presently 39.75%.

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.