Rhumbline Advisers Sells 1,043 Shares of City Holding (NASDAQ:CHCO)

Rhumbline Advisers reduced its position in shares of City Holding (NASDAQ:CHCO) by 2.3% in the 1st quarter, Holdings Channel reports. The firm owned 44,038 shares of the bank’s stock after selling 1,043 shares during the period. Rhumbline Advisers’ holdings in City were worth $5,173,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CHCO. Guggenheim Capital LLC raised its stake in City by 1.3% during the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank’s stock worth $1,047,000 after acquiring an additional 114 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock valued at $162,000 after purchasing an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of City by 10.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock valued at $170,000 after purchasing an additional 140 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in City by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,247 shares of the bank’s stock worth $977,000 after purchasing an additional 235 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in City by 3.7% in the 4th quarter. MetLife Investment Management LLC now owns 8,719 shares of the bank’s stock valued at $1,033,000 after purchasing an additional 310 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Trading Down 0.1%

Shares of CHCO stock opened at $118.65 on Friday. City Holding has a twelve month low of $100.45 and a twelve month high of $137.28. The stock’s fifty day simple moving average is $117.04 and its 200 day simple moving average is $119.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.72 billion, a P/E ratio of 15.04 and a beta of 0.54.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.22. The firm had revenue of $74.55 million during the quarter, compared to analysts’ expectations of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, sell-side analysts predict that City Holding will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, July 15th. City’s dividend payout ratio is presently 39.60%.

Insiders Place Their Bets

In other City news, Director James M. Parsons bought 2,200 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $122.38 per share, for a total transaction of $269,236.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $330,426. This trade represents a 440.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David L. Bumgarner sold 1,058 shares of the firm’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 directly owns 10,636 shares of the company’s stock, valued at approximately $1,255,048. This trade represents a 9.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,899 shares of company stock worth $339,590. 1.87% of the stock is currently owned by insiders.

City Company 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.