City Holding (NASDAQ:CHCO) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lowered its holdings in City Holding (NASDAQ:CHCO) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,032 shares of the bank’s stock after selling 237 shares during the period. Tower Research Capital LLC TRC’s holdings in City were worth $122,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC increased its holdings in City by 781.3% in the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock valued at $50,000 after purchasing an additional 375 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of City by 710.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock valued at $56,000 after buying an additional 405 shares in the last quarter. KBC Group NV raised its holdings in shares of City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after buying an additional 317 shares during the period. PNC Financial Services Group Inc. lifted its position in City by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after acquiring an additional 131 shares in the last quarter. Finally, Longboard Asset Management LP acquired a new position in City during the 4th quarter worth approximately $211,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th.

Insider Activity

In other City news, CFO David L. Bumgarner sold 1,058 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total transaction of $124,844.00. Following the sale, the chief financial officer now owns 10,636 shares in the company, valued at $1,255,048. This represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $116.22, for a total value of $162,708.00. Following the completion of the transaction, the executive vice president now owns 2,830 shares of the company’s stock, valued at approximately $328,902.60. The trade was a 33.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,069 shares of company stock worth $359,820. 1.87% of the stock is currently owned by corporate insiders.

City Stock Up 2.2 %

Shares of NASDAQ CHCO opened at $119.30 on Friday. 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 1 year low of $99.63 and a 1 year high of $137.28. The stock’s 50-day simple moving average is $115.61 and its 200-day simple moving average is $120.04. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 15.12 and a beta of 0.52.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.22. The company had revenue of $74.55 million for the quarter, compared to the consensus estimate of $73.28 million. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, equities analysts anticipate that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, April 15th. City’s dividend payout ratio is currently 39.60%.

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.