New York State Teachers Retirement System Lowers Stock Holdings in City Holding (NASDAQ:CHCO)

New York State Teachers Retirement System reduced its stake in City Holding (NASDAQ:CHCO) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,417 shares of the bank’s stock after selling 1,347 shares during the quarter. New York State Teachers Retirement System owned about 0.19% of City worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Rhumbline Advisers grew its position in City by 0.4% during the first quarter. Rhumbline Advisers now owns 41,147 shares of the bank’s stock valued at $3,238,000 after acquiring an additional 160 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of City by 25.1% in the third quarter. Lazard Asset Management LLC now owns 896 shares of the bank’s stock worth $80,000 after purchasing an additional 180 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of City by 7.6% in the first quarter. Captrust Financial Advisors now owns 2,821 shares of the bank’s stock worth $222,000 after purchasing an additional 200 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of City by 3.2% in the third quarter. Royal Bank of Canada now owns 6,496 shares of the bank’s stock worth $576,000 after purchasing an additional 200 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of City by 28.0% in the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after purchasing an additional 249 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CHCO shares. Stephens raised their target price on shares of City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Piper Sandler lifted 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.

Insider Transactions at City

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

City Stock Performance

Shares of City stock opened at $99.10 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.47 billion, a P/E ratio of 13.02 and a beta of 0.51. The business has a fifty day simple moving average of $101.59 and a two-hundred day simple moving average of $100.61. City Holding has a 12 month low of $82.53 and a 12 month high of $115.89.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.06). The company had revenue of $86.10 million during the quarter, compared to analysts’ expectations of $72.50 million. City had a return on equity of 18.62% and a net margin of 33.31%. On average, equities analysts forecast that City Holding will post 7.43 earnings per share for the current fiscal year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, April 12th. City’s dividend payout ratio is presently 37.58%.

About City

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.