Y Intercept Hong Kong Ltd Makes New $255,000 Investment in City Holding (NASDAQ:CHCO)

Y Intercept Hong Kong Ltd purchased a new stake in shares of City Holding (NASDAQ:CHCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,156 shares of the bank’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CHCO. KBC Group NV increased its position in City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after purchasing an additional 317 shares during the period. Point72 DIFC Ltd purchased a new position in City during the third quarter valued at approximately $134,000. Crossmark Global Holdings Inc. purchased a new position in City during the third quarter valued at approximately $199,000. Longboard Asset Management LP bought a new position in City in the fourth quarter worth approximately $211,000. Finally, Quantbot Technologies LP purchased a new stake in City during the third quarter worth $214,000. 72.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler reduced their target price on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th.

City Stock Performance

Shares of CHCO stock opened at $116.62 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.71 billion, a PE ratio of 14.78 and a beta of 0.48. City Holding has a 12-month low of $97.50 and a 12-month high of $137.28. The business’s fifty day simple moving average is $118.71 and its 200-day simple moving average is $120.58.

City (NASDAQ:CHCO) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 EPS 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%. Analysts expect that City Holding will post 7.58 earnings per share for the current fiscal year.

Insider Activity at City

In other City news, CFO David L. Bumgarner sold 556 shares of City 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 completion of the sale, the chief financial officer now owns 9,395 shares of the company’s stock, valued at approximately $1,127,400. The trade was a 5.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the director now owns 1,014 shares in the company, valued at approximately $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,226 shares of company stock valued at $147,200 in the last three months. 2.39% of the stock is owned by insiders.

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.