3,318 Shares in City Holding Company $CHCO Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. bought a new position in shares of City Holding Company (NASDAQ:CHCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,318 shares of the bank’s stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHCO. CWM LLC boosted its position in shares of City by 43.9% during the first quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after acquiring an additional 86 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of City by 69.0% during the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock worth $67,000 after acquiring an additional 223 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of City during the first quarter worth $104,000. Finally, ZWJ Investment Counsel Inc. bought a new position in City during the second quarter valued at $206,000. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CHCO. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research report on Wednesday, October 8th. DA Davidson increased their price objective on shares of City from $128.00 to $137.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Hovde Group increased their price objective on shares of City from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.25.

City Price Performance

City stock opened at $122.47 on Thursday. The firm has a 50-day moving average price of $124.61 and a 200-day moving average price of $121.47. The firm has a market capitalization of $1.77 billion, a PE ratio of 14.74 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a 12-month low of $102.22 and a 12-month high of $137.28.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.26. The firm had revenue of $81.26 million during the quarter, compared to analyst estimates of $80.17 million. City had a net margin of 31.35% and a return on equity of 16.30%. As a group, equities research analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a $0.87 dividend. This is a boost from City’s previous quarterly dividend of $0.79. The ex-dividend date is Wednesday, October 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is 41.88%.

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.