City Holding (NASDAQ:CHCO) Shares Sold by City Holding Co.

City Holding Co. decreased its position in shares of City Holding (NASDAQ:CHCO) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,028 shares of the bank’s stock after selling 2,794 shares during the period. City comprises 4.2% of City Holding Co.’s investment portfolio, making the stock its biggest position. City Holding Co. owned approximately 1.74% of City worth $30,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC increased its position in shares of City by 781.3% during the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after acquiring an additional 375 shares during the period. Smartleaf Asset Management LLC grew its stake in City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after purchasing an additional 405 shares in the last quarter. KBC Group NV increased its holdings in City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after purchasing an additional 317 shares during the period. PNC Financial Services Group Inc. increased its holdings in City by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after purchasing an additional 131 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in City by 10.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock valued at $170,000 after purchasing an additional 140 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Stock Performance

Shares of CHCO opened at $117.90 on Monday. City Holding has a 1 year low of $99.79 and a 1 year high of $137.28. The stock has a market capitalization of $1.71 billion, a PE ratio of 14.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50-day simple moving average of $116.59 and a 200-day simple moving average of $119.30.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.22. City had a net margin of 30.83% and a return on equity of 16.49%. The company had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. On average, analysts predict that City Holding will post 7.58 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.68%. City’s payout ratio is currently 39.60%.

Insider Activity at City

In other City news, Director James M. Parsons acquired 2,200 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $122.38 per share, with a total value of $269,236.00. Following the transaction, the director now owns 2,700 shares in the company, valued at $330,426. The trade was a 440.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $116.22, for a total value of $162,708.00. Following the sale, the executive vice president now directly owns 2,830 shares in the company, valued at $328,902.60. This trade represents a 33.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,899 shares of company stock valued at $339,590 over the last quarter. 1.87% of the stock is owned by insiders.

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.