Leeward Investments LLC MA Sells 3,862 Shares of City Holding Company $CHCO

Leeward Investments LLC MA cut its holdings in shares of City Holding Company (NASDAQ:CHCO) by 5.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 66,631 shares of the bank’s stock after selling 3,862 shares during the quarter. Leeward Investments LLC MA’s holdings in City were worth $9,270,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in City during the 2nd quarter worth approximately $270,231,000. Dimensional Fund Advisors LP increased its position in City by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after acquiring an additional 8,992 shares during the period. Bank of New York Mellon Corp acquired a new position in City in the 2nd quarter valued at approximately $15,012,000. Principal Financial Group Inc. raised its stake in shares of City by 2.1% during the first quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock valued at $8,398,000 after acquiring an additional 1,460 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of City by 35.2% during the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after acquiring an additional 16,060 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Stock Performance

Shares of CHCO stock opened at $142.01 on Monday. City Holding Company has a 1-year low of $113.21 and a 1-year high of $148.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 15.54 and a beta of 0.49. The stock has a 50-day moving average of $142.51 and a 200-day moving average of $135.00.

City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a $1.00 dividend. The ex-dividend date is Thursday, October 15th. This is a boost from City’s previous quarterly dividend of $0.87. This represents a $4.00 annualized dividend and a yield of 2.8%. City’s dividend payout ratio (DPR) is currently 43.76%.

Insider Activity at City

In other City news, Director Sharon H. Rowe sold 400 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total transaction of $57,584.00. Following the completion of the sale, the director owned 10,576 shares of the company’s stock, valued at approximately $1,522,520.96. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Hageboeck sold 4,485 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total transaction of $650,145.60. Following the sale, the chief executive officer directly owned 43,998 shares of the company’s stock, valued at $6,377,950.08. This represents a 9.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 480 shares of company stock worth $68,222 over the last quarter. 1.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of City from $135.00 to $145.00 and gave the stock a “market perform” rating in a report on Thursday, October 1st. Weiss Ratings upgraded City from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday, October 16th. Finally, Hovde Group increased their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.33.

City Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.