City Holding (NASDAQ:CHCO) Shares Bought by Swiss National Bank

Swiss National Bank boosted its position in shares of City Holding (NASDAQ:CHCO – Get Rating) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,900 shares of the bank’s stock after buying an additional 400 shares during the period. Swiss National Bank’s holdings in City were worth $3,342,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CHCO. Lanham O Dell & Company Inc. raised its stake in City by 20.6% in the 3rd quarter. Lanham O Dell & Company Inc. now owns 14,458 shares of the bank’s stock valued at $1,282,000 after purchasing an additional 2,469 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of City in the third quarter worth about $72,000. Allspring Global Investments Holdings LLC boosted its position in City by 13.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,412 shares of the bank’s stock worth $568,000 after acquiring an additional 749 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in City during the 3rd quarter valued at about $690,000. Finally, Exchange Traded Concepts LLC raised its holdings in City by 2.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,427 shares of the bank’s stock valued at $691,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Jeffrey Dale Legge sold 840 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $90.00, for a total value of $75,600.00. Following the sale, the chief accounting officer now directly owns 7,893 shares of the company’s stock, valued at approximately $710,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Jeffrey Dale Legge sold 840 shares of City stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $90.00, for a total value of $75,600.00. Following the completion of the sale, the chief accounting officer now owns 7,893 shares in the company, valued at approximately $710,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 7,660 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $98.54, for a total value of $754,816.40. Following the completion of the sale, the chief executive officer now directly owns 52,598 shares in the company, valued at approximately $5,183,006.92. The disclosure for this sale can be found here. Insiders sold a total of 10,450 shares of company stock valued at $1,011,716 over the last 90 days. 2.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CHCO has been the topic of several recent research reports. Piper Sandler initiated coverage on City in a report on Thursday, April 6th. They set a “neutral” rating on the stock. StockNews.com began coverage on City in a research note on Thursday. They set a “sell” rating on the stock. Finally, Stephens initiated coverage on City in a research note on Monday, April 3rd. They issued an “equal weight” rating and a $89.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.33.

City Price Performance

Shares of NASDAQ CHCO opened at $88.30 on Monday. City Holding has a 1 year low of $76.90 and a 1 year high of $103.00. The company has a market capitalization of $1.33 billion, a P/E ratio of 12.58 and a beta of 0.55. The company has a 50 day simple moving average of $90.02 and a 200-day simple moving average of $93.87.

City (NASDAQ:CHCO – Get Rating) last posted its earnings results on Tuesday, April 25th. The bank reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.21. City had a return on equity of 18.66% and a net margin of 36.69%. The company had revenue of $72.45 million during the quarter, compared to analysts’ expectations of $68.85 million. As a group, research analysts expect that City Holding will post 7.5 EPS for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $2.60 dividend on an annualized basis and a yield of 2.94%. City’s payout ratio is currently 37.04%.

City Profile

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City Holding Co is a financial holding company, which engages in the provision of financial and community banking services. Its products produced and services rendered by City National include Commercial Banking, Consumer Banking, Mortgage Banking, and Wealth Management and Trust Services. The company was founded on March 12, 1982 and is headquartered in Charleston, WV.