HB Wealth Management LLC Sells 262 Shares of City Holding (NASDAQ:CHCO)

HB Wealth Management LLC cut its stake in City Holding (NASDAQ:CHCO) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,727 shares of the bank’s stock after selling 262 shares during the quarter. HB Wealth Management LLC’s holdings in City were worth $301,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of City in the first quarter worth about $27,000. Quantbot Technologies LP grew its holdings in shares of City by 141.0% during the 2nd quarter. Quantbot Technologies LP now owns 453 shares of the bank’s stock worth $36,000 after acquiring an additional 265 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of City in the 2nd quarter worth approximately $46,000. Advisor Group Holdings Inc. lifted its holdings in shares of City by 80.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 655 shares of the bank’s stock valued at $52,000 after buying an additional 292 shares during the period. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of City by 214.8% during the 3rd quarter. Ensign Peak Advisors Inc now owns 850 shares of the bank’s stock valued at $75,000 after buying an additional 580 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Stock Performance

Shares of NASDAQ:CHCO opened at $104.22 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of 13.70 and a beta of 0.50. The firm’s 50 day simple moving average is $102.47 and its 200-day simple moving average is $99.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. City Holding has a one year low of $82.53 and a one year high of $115.89.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The business had revenue of $86.10 million during the quarter, compared to the consensus estimate of $72.50 million. City had a return on equity of 18.62% and a net margin of 33.31%. As a group, equities analysts predict that City Holding will post 7.43 EPS for the current year.

Insider Activity

In other City news, Director Charles W. Fairchilds sold 600 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.00, for a total value of $63,600.00. Following the sale, the director now directly owns 2,014 shares of the company’s stock, valued at $213,484. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Charles R. Hageboeck sold 8,899 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $101.00, for a total transaction of $898,799.00. Following the sale, the chief executive officer now directly owns 53,218 shares of the company’s stock, valued at approximately $5,375,018. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles W. Fairchilds sold 600 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.00, for a total transaction of $63,600.00. Following the sale, the director now directly owns 2,014 shares in the company, valued at $213,484. The disclosure for this sale can be found here. Insiders have sold 10,808 shares of company stock valued at $1,094,935 over the last ninety days. 2.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stephens upped their price objective on City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Piper Sandler increased their price target on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st.

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.