City Holding (NASDAQ:CHCO) Shares Bought by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lifted its holdings in City Holding (NASDAQ:CHCO) by 145.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,779 shares of the bank’s stock after acquiring an additional 4,616 shares during the period. BNP Paribas Arbitrage SA’s holdings in City were worth $636,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of City in the fourth quarter valued at $10,974,000. JPMorgan Chase & Co. boosted its stake in shares of City by 20.4% in the fourth quarter. JPMorgan Chase & Co. now owns 489,603 shares of the bank’s stock valued at $34,052,000 after purchasing an additional 83,017 shares during the period. GW&K Investment Management LLC boosted its stake in shares of City by 1,430.7% in the fourth quarter. GW&K Investment Management LLC now owns 57,648 shares of the bank’s stock valued at $4,009,000 after purchasing an additional 53,882 shares during the period. Royce & Associates LP boosted its stake in shares of City by 79.0% in the fourth quarter. Royce & Associates LP now owns 112,781 shares of the bank’s stock valued at $7,844,000 after purchasing an additional 49,776 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of City by 0.9% in the fourth quarter. BlackRock Inc. now owns 2,336,281 shares of the bank’s stock valued at $162,489,000 after purchasing an additional 21,739 shares during the period. 64.04% of the stock is owned by institutional investors.

Separately, Zacks Investment Research downgraded shares of City from a “buy” rating to a “hold” rating in a research note on Monday, April 26th.

In other City news, CFO David L. Bumgarner sold 2,105 shares of the stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $79.25, for a total transaction of $166,821.25. Following the sale, the chief financial officer now directly owns 9,946 shares of the company’s stock, valued at $788,220.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,525 shares of the stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $78.96, for a total transaction of $120,414.00. Following the sale, the executive vice president now directly owns 7,731 shares in the company, valued at $610,439.76. The disclosure for this sale can be found here. Insiders have sold a total of 6,551 shares of company stock worth $515,073 over the last quarter. 3.68% of the stock is currently owned by insiders.

NASDAQ CHCO opened at $78.24 on Friday. City Holding has a 12 month low of $55.03 and a 12 month high of $88.49. The company has a market cap of $1.23 billion, a P/E ratio of 15.59 and a beta of 0.65. The company’s fifty day moving average is $79.69.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, April 20th. The bank reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.14. City had a net margin of 33.61% and a return on equity of 11.47%. The firm had revenue of $54.50 million for the quarter, compared to the consensus estimate of $54.60 million. On average, sell-side analysts expect that City Holding will post 4.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Thursday, April 15th were paid a dividend of $0.58 per share. The ex-dividend date was Wednesday, April 14th. This represents a $2.32 dividend on an annualized basis and a yield of 2.97%. City’s dividend payout ratio (DPR) is 41.80%.

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.

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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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