DAVENPORT & Co LLC Purchases 176 Shares of City Holding (NASDAQ:CHCO)

DAVENPORT & Co LLC lifted its position in shares of City Holding (NASDAQ:CHCO) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,426 shares of the bank’s stock after purchasing an additional 176 shares during the period. DAVENPORT & Co LLC’s holdings in City were worth $524,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CHCO. AQR Capital Management LLC lifted its position in shares of City by 20.9% during the second quarter. AQR Capital Management LLC now owns 4,038 shares of the bank’s stock valued at $429,000 after purchasing an additional 697 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of City by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock valued at $792,000 after purchasing an additional 285 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of City during the third quarter valued at about $579,000. Inspire Investing LLC lifted its position in shares of City by 6.8% during the third quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock valued at $410,000 after purchasing an additional 222 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of City during the third quarter valued at about $59,000. 72.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CHCO shares. Keefe, Bruyette & Woods raised their price target on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the transaction, the chief executive officer now owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. The trade was a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John A. Derito sold 1,243 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the transaction, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,364 shares of company stock valued at $1,085,806 over the last quarter. Company insiders own 2.45% of the company’s stock.

City Stock Performance

Shares of CHCO stock opened at $118.90 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 15.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a 52 week low of $97.50 and a 52 week high of $137.28. The firm’s 50-day simple moving average is $121.55 and its two-hundred day simple moving average is $120.27.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, equities analysts forecast that City Holding will post 7.53 earnings per share for the current year.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, January 15th. City’s dividend payout ratio (DPR) is currently 40.05%.

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.