Virtu Financial LLC Takes $1.35 Million Position in City Holding Company $CHCO

Virtu Financial LLC acquired a new stake in City Holding Company (NASDAQ:CHCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,351 shares of the bank’s stock, valued at approximately $1,353,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in City in the fourth quarter valued at about $29,000. First Horizon Corp boosted its stake in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Quarry LP purchased a new stake in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC acquired a new stake in shares of City in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after acquiring an additional 198 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CHCO shares. Hovde Group raised their price objective on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, City has a consensus rating of “Hold” and an average price target of $134.25.

City Stock Performance

Shares of CHCO opened at $127.12 on Friday. City Holding Company has a 12-month low of $113.21 and a 12-month high of $133.59. The stock has a market cap of $1.79 billion, a P/E ratio of 14.00 and a beta of 0.49. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $125.13 and a two-hundred day moving average of $123.41.

City (NASDAQ:CHCO) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, beating the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. As a group, research analysts predict that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. City’s dividend payout ratio is presently 38.33%.

City declared that its board has initiated a share buyback plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total value of $152,568.90. Following the completion of the transaction, the executive vice president directly owned 3,314 shares of the company’s stock, valued at $417,862.26. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David L. Bumgarner sold 1,161 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the completion of the sale, the chief financial officer owned 10,666 shares in the company, valued at $1,327,917. This represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have bought 455 shares of company stock worth $57,018 and have sold 12,975 shares worth $1,622,853. 1.75% of the stock is owned by insiders.

City Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.