Renaissance Technologies LLC lifted its holdings in shares of City Holding Company (NASDAQ:CHCO – Free Report) by 55.0% during the first quarter, HoldingsChannel reports. The firm owned 61,686 shares of the bank’s stock after purchasing an additional 21,898 shares during the quarter. Renaissance Technologies LLC’s holdings in City were worth $7,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in City by 1.0% in the second quarter. State Street Corp now owns 639,166 shares of the bank’s stock worth $78,247,000 after acquiring an additional 6,371 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of City by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock worth $70,740,000 after purchasing an additional 6,552 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of City by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after purchasing an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of City by 0.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock worth $25,443,000 after purchasing an additional 1,354 shares during the period. Finally, Two Sigma Investments LP lifted its stake in City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after purchasing an additional 71,436 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.
Insider Buying and Selling
In other news, CFO David L. Bumgarner sold 1,161 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer owned 10,666 shares in the company, valued at approximately $1,327,917. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total transaction of $163,625.00. Following the completion of the sale, the executive vice president directly owned 7,656 shares in the company, valued at approximately $957,000. This trade represents a 14.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 544 shares of company stock worth $71,900 and have sold 10,020 shares worth $1,339,923. 1.75% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on City
City Price Performance
City stock opened at $145.49 on Tuesday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 15.92 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $132.50 and a 200 day simple moving average of $126.27. City Holding Company has a 52 week low of $113.21 and a 52 week high of $147.58.
City (NASDAQ:CHCO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.38%. The firm had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. On average, research analysts forecast that City Holding Company will post 9.29 earnings per share for the current fiscal year.
City Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were issued a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.48 annualized dividend and a yield of 2.4%. City’s dividend payout ratio is currently 38.07%.
About City
City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.
The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.
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