Citadel Advisors LLC raised its stake in shares of City Holding Company (NASDAQ:CHCO) by 36.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,057 shares of the bank’s stock after purchasing an additional 2,144 shares during the period. Citadel Advisors LLC owned 0.05% of City Holding worth $531,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHCO. Wells Fargo & Company MN boosted its holdings in shares of City Holding by 6.7% during the 1st quarter. Wells Fargo & Company MN now owns 33,415 shares of the bank’s stock valued at $2,154,000 after purchasing an additional 2,089 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of City Holding by 6.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 21,117 shares of the bank’s stock valued at $1,361,000 after purchasing an additional 1,261 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of City Holding by 13.5% during the 1st quarter. First Trust Advisors LP now owns 28,769 shares of the bank’s stock valued at $1,855,000 after purchasing an additional 3,427 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of City Holding by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 255,995 shares of the bank’s stock valued at $16,506,000 after purchasing an additional 9,413 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of City Holding by 8.0% during the 1st quarter. Comerica Bank now owns 17,209 shares of the bank’s stock valued at $1,229,000 after purchasing an additional 1,273 shares during the last quarter. 62.53% of the stock is owned by institutional investors and hedge funds.
City Holding Company (CHCO) opened at 72.43 on Wednesday. City Holding Company has a one year low of $48.46 and a one year high of $74.90. The company has a market cap of $1.13 billion, a P/E ratio of 18.95 and a beta of 0.86. The company has a 50 day moving average of $67.72 and a 200-day moving average of $66.07.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings results on Monday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $46.18 million for the quarter, compared to analyst estimates of $46.45 million. City Holding had a net margin of 29.07% and a return on equity of 12.62%. During the same period in the previous year, the business posted $0.83 earnings per share. On average, equities analysts expect that City Holding Company will post $3.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.76 annualized dividend and a yield of 2.43%. City Holding’s payout ratio is 45.95%.
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A number of research analysts recently commented on the stock. BidaskClub raised shares of City Holding from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Zacks Investment Research raised shares of City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 price target for the company in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $70.33.
In other news, CEO Charles R. Hageboeck sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $62.78, for a total value of $125,560.00. Following the sale, the chief executive officer now directly owns 72,984 shares of the company’s stock, valued at approximately $4,581,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey Dale Legge sold 899 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total transaction of $60,727.45. Following the completion of the sale, the chief accounting officer now directly owns 7,151 shares in the company, valued at $483,050.05. The disclosure for this sale can be found here. Insiders own 3.88% of the company’s stock.
City Holding Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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