City Holding (NASDAQ:CHCO) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC increased its stake in shares of City Holding (NASDAQ:CHCO) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,719 shares of the bank’s stock after purchasing an additional 310 shares during the quarter. MetLife Investment Management LLC owned 0.06% of City worth $1,033,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock valued at $65,253,000 after purchasing an additional 22,226 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of City by 24.2% in the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank’s stock valued at $31,071,000 after buying an additional 51,055 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in City by 0.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank’s stock worth $12,964,000 after acquiring an additional 885 shares during the period. American Century Companies Inc. raised its position in City by 3.2% in the fourth quarter. American Century Companies Inc. now owns 92,244 shares of the bank’s stock worth $10,929,000 after acquiring an additional 2,903 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in City by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank’s stock valued at $9,243,000 after acquiring an additional 2,726 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th.

Insider Buying and Selling at City

In other news, CFO David L. Bumgarner sold 1,058 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total value of $124,844.00. Following the sale, the chief financial officer now directly owns 10,636 shares in the company, valued at $1,255,048. This represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction dated Thursday, February 6th. The stock was 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 of the company’s stock, valued at approximately $122,187. This represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,128 shares of company stock valued at $368,032 over the last quarter. Corporate insiders own 1.87% of the company’s stock.

City Price Performance

Shares of NASDAQ:CHCO opened at $117.46 on Friday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 14.89 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day simple moving average is $115.67 and its 200-day simple moving average is $120.08. City Holding has a 12 month low of $99.63 and a 12 month high of $137.28.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.22. The company had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, equities analysts forecast that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, April 15th. City’s payout ratio is currently 39.60%.

City Company 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.