Quest Partners LLC Takes Position in City Holding (NASDAQ:CHCO)

Quest Partners LLC purchased a new stake in City Holding (NASDAQ:CHCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,690 shares of the bank’s stock, valued at approximately $627,000.

Several other institutional investors have also added to or reduced their stakes in CHCO. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in City by 28.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock valued at $323,000 after acquiring an additional 789 shares in the last quarter. Teacher Retirement System of Texas lifted its position in City by 2.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after acquiring an additional 301 shares in the last quarter. Victory Capital Management Inc. lifted its position in City by 21.4% in the 3rd quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock valued at $818,000 after acquiring an additional 1,594 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in City in the 3rd quarter valued at $407,000. Finally, Illinois Municipal Retirement Fund bought a new stake in City during the 3rd quarter worth about $762,000. 72.43% of the stock is owned by institutional investors.

Insider Transactions at City

In related news, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the transaction, the executive vice president now owns 28,620 shares in the company, valued at approximately $2,897,775. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the transaction, the executive vice president now owns 28,620 shares in the company, valued at approximately $2,897,775. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael T. Quinlan, Jr. sold 800 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $105.60, for a total transaction of $84,480.00. Following the completion of the transaction, the executive vice president now owns 2,600 shares in the company, valued at approximately $274,560. The disclosure for this sale can be found here. Insiders have sold 21,029 shares of company stock worth $2,161,586 in the last ninety days. Insiders own 2.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CHCO shares. Stephens cut their price target on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Hovde Group boosted their price target on shares of City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Piper Sandler boosted their price target on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $110.00 price target (up from $100.00) on shares of City in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, City presently has a consensus rating of “Hold” and a consensus target price of $106.75.

City Stock Down 0.2 %

City stock opened at $102.77 on Thursday. The firm has a market capitalization of $1.52 billion, a PE ratio of 12.93 and a beta of 0.50. The company’s 50-day moving average is $102.62 and its 200-day moving average is $102.86. City Holding has a fifty-two week low of $85.41 and a fifty-two week high of $115.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.13. The company had revenue of $72.60 million for the quarter, compared to analyst estimates of $71.45 million. City had a net margin of 33.78% and a return on equity of 18.31%. Sell-side analysts anticipate that City Holding will post 7.65 earnings per share for the current year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $0.715 per share. The ex-dividend date was Friday, April 12th. This represents a $2.86 annualized dividend and a dividend yield of 2.78%. City’s dividend payout ratio is presently 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.