Thrivent Financial for Lutherans Reduces Stock Position in City Holding (NASDAQ:CHCO)

Thrivent Financial for Lutherans trimmed its position in City Holding (NASDAQ:CHCO) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,364 shares of the bank’s stock after selling 181 shares during the quarter. Thrivent Financial for Lutherans’ holdings in City were worth $1,346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after buying an additional 405 shares during the last quarter. KBC Group NV raised its holdings in shares of City by 60.3% during the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after purchasing an additional 317 shares during the last quarter. Point72 DIFC Ltd acquired a new position in City during the third quarter valued at $134,000. PNC Financial Services Group Inc. boosted its holdings in City by 10.6% in the fourth 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 during the last quarter. Finally, Longboard Asset Management LP purchased a new stake in City in the fourth quarter valued at $211,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Activity

In other City news, CFO David L. Bumgarner sold 556 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the transaction, the chief financial officer now directly owns 9,395 shares in the company, valued at approximately $1,127,400. This represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the sale, the director now owns 1,014 shares in the company, valued at approximately $122,187. This trade represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,226 shares of company stock worth $147,200 in the last quarter. Corporate insiders own 2.45% of the company’s stock.

City Stock Down 1.9 %

CHCO stock opened at $117.50 on Monday. The firm’s fifty day moving average is $118.12 and its 200 day moving average is $120.66. The firm has a market cap of $1.72 billion, a PE ratio of 14.89 and a beta of 0.48. City Holding has a one year low of $97.50 and a one year high of $137.28. 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 (NASDAQ:CHCO) last posted its earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, research analysts forecast that City Holding will post 7.58 EPS for the current year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, April 15th. City’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHCO shares. Keefe, Bruyette & Woods boosted 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. Piper Sandler decreased their price target on City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th.

City 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.