Leeward Investments LLC MA Sells 694 Shares of City Holding (NASDAQ:CHCO)

Leeward Investments LLC MA reduced its position in shares of City Holding (NASDAQ:CHCO) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,850 shares of the bank’s stock after selling 694 shares during the period. Leeward Investments LLC MA’s holdings in City were worth $9,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHCO. SG Americas Securities LLC acquired a new position in City in the third quarter valued at approximately $806,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of City by 28.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock worth $323,000 after purchasing an additional 789 shares during the period. Teacher Retirement System of Texas raised its position in shares of City by 2.8% during the third quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock worth $985,000 after purchasing an additional 301 shares during the period. Victory Capital Management Inc. raised its position in shares of City by 21.4% during the third quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock worth $818,000 after purchasing an additional 1,594 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of City during the third quarter worth approximately $407,000. 72.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHCO. Piper Sandler upped their price target on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Stephens decreased their price target on City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $110.00 price target (up previously from $100.00) on shares of City in a report on Thursday.

Insider Activity at City

In other City news, EVP John A. Derito sold 1,309 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the sale, the executive vice president now owns 28,620 shares in the company, valued at $2,897,775. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other City news, EVP John A. Derito sold 1,309 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the sale, the executive vice president now owns 28,620 shares in the company, valued at $2,897,775. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 8,899 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $101.00, for a total value of $898,799.00. Following the sale, the chief executive officer now owns 53,218 shares in the company, valued at approximately $5,375,018. The disclosure for this sale can be found here. 2.45% of the stock is owned by company insiders.

City Stock Performance

City stock traded down $1.10 during trading on Friday, hitting $104.11. The stock had a trading volume of 36,449 shares, compared to its average volume of 61,460. City Holding has a 1 year low of $82.53 and a 1 year high of $115.89. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $101.79 and its two-hundred day moving average is $101.11. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 13.10 and a beta of 0.51.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). City had a net margin of 33.78% and a return on equity of 18.31%. The firm had revenue of $86.10 million during the quarter, compared to analysts’ expectations of $72.50 million. As a group, analysts predict that City Holding will post 7.51 EPS for the current year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.86 annualized dividend and a yield of 2.75%. City’s payout ratio is 35.97%.

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.