Intech Investment Management LLC Purchases 3,048 Shares of City Holding (NASDAQ:CHCO)

Intech Investment Management LLC increased its holdings in City Holding (NASDAQ:CHCO) by 135.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,291 shares of the bank’s stock after buying an additional 3,048 shares during the period. Intech Investment Management LLC’s holdings in City were worth $627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Axxcess Wealth Management LLC boosted its position in shares of City by 0.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank’s stock valued at $12,964,000 after acquiring an additional 885 shares during the last quarter. Amundi raised its position in shares of City by 187.6% during the 4th quarter. Amundi now owns 7,443 shares of the bank’s stock valued at $871,000 after buying an additional 4,855 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 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 during the last quarter. Raymond James Financial Inc. purchased a new position in City in the fourth quarter worth $361,000. Finally, Charles Schwab Investment Management Inc. increased its stake in City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock valued at $65,253,000 after acquiring an additional 22,226 shares during the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Price Performance

CHCO opened at $119.85 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $118.12 and its 200 day simple moving average is $120.55. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 15.19 and a beta of 0.48. City Holding has a 1 year low of $97.50 and a 1 year high of $137.28.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (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, analysts predict that City Holding will post 7.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler reduced their price target 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, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the sale, the chief financial officer now owns 9,395 shares of the company’s stock, valued at $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the transaction, the director now owns 1,014 shares of the company’s stock, valued at $122,187. This trade represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,226 shares of company stock valued at $147,200. Insiders own 2.45% of the company’s stock.

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.