Victory Capital Management Inc. Purchases 137 Shares of City Holding (NASDAQ:CHCO)

Victory Capital Management Inc. boosted its position in shares of City Holding (NASDAQ:CHCO) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,676 shares of the bank’s stock after buying an additional 137 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of City worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised 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. Louisiana State Employees Retirement System increased its position in City by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC increased its position in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after purchasing an additional 113 shares during the period. Inspire Investing LLC increased its position in City by 6.8% during the 3rd quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock valued at $410,000 after purchasing an additional 222 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in City by 1.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,920 shares of the bank’s stock valued at $1,343,000 after purchasing an additional 229 shares during the period. 72.43% of the stock is currently owned by institutional investors.

Insider Transactions at City

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the sale, the chief executive officer now directly owns 44,974 shares of the company’s stock, valued at $5,847,969.22. This represents a 11.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Derito sold 1,243 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the sale, the executive vice president now directly owns 28,757 shares in the company, valued at $3,937,696.01. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,092 shares of company stock valued at $1,196,697 in the last three months. 2.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reissued a “neutral” rating and set a $135.00 price objective on shares of City in a research report on Friday, November 8th.

City Stock Up 0.2 %

Shares of City stock opened at $132.12 on Thursday. The company’s fifty day simple moving average is $121.30 and its two-hundred day simple moving average is $114.36. The company has a market cap of $1.94 billion, a P/E ratio of 17.11 and a beta of 0.46. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. City Holding has a 12-month low of $95.39 and a 12-month high of $137.28.

City (NASDAQ:CHCO) last released its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. Research analysts anticipate that City Holding will post 7.84 EPS for the current year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Wednesday, January 15th. City’s dividend payout ratio is presently 40.56%.

About City

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.