City Holding (NASDAQ:CHCO) Shares Sold by State Street Corp

State Street Corp lowered its stake in City Holding (NASDAQ:CHCO) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,311 shares of the bank’s stock after selling 12,930 shares during the period. State Street Corp’s holdings in City were worth $77,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 DIFC Ltd acquired a new stake in City during the third quarter worth approximately $134,000. Point72 Asset Management L.P. raised its stake in City by 34.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,900 shares of the bank’s stock worth $340,000 after acquiring an additional 748 shares in the last quarter. Centiva Capital LP purchased a new stake in City in the third quarter valued at $295,000. BNP Paribas Financial Markets boosted its stake in City by 54.7% in the third quarter. BNP Paribas Financial Markets now owns 5,430 shares of the bank’s stock valued at $637,000 after acquiring an additional 1,919 shares in the last quarter. Finally, FMR LLC boosted its stake in City by 36.5% in the third quarter. FMR LLC now owns 2,437 shares of the bank’s stock valued at $286,000 after acquiring an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Stock Performance

Shares of CHCO stock opened at $127.44 on Wednesday. The stock’s 50-day moving average price is $125.42 and its 200 day moving average price is $117.25. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.87 billion, a PE ratio of 16.36 and a beta of 0.49. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28.

City (NASDAQ:CHCO) last released its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, topping the consensus estimate of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The business had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. As a group, equities research analysts forecast that City Holding will post 7.84 EPS for the current year.

City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s payout ratio is 40.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $135.00 target price on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their price objective on City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Insider Transactions at City

In related news, EVP John A. Derito sold 1,243 shares of City stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the sale, the executive vice president now directly owns 28,757 shares in the company, valued at $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the transaction, the director now owns 23,637 shares of the company’s stock, valued at $3,151,521.21. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,092 shares of company stock worth $1,196,697 over the last ninety days. 2.45% of the stock is currently owned by company 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.