BlackRock Inc. Acquires Shares of 2,037,326 City Holding Company $CHCO

BlackRock Inc. acquired a new position in shares of City Holding Company (NASDAQ:CHCO) during the 2nd quarter, Holdings Channel reports. The firm acquired 2,037,326 shares of the bank’s stock, valued at approximately $270,231,000. BlackRock Inc. owned approximately 0.14% of City as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CHCO. Kestra Advisory Services LLC acquired a new position in shares of City in the fourth quarter valued at about $29,000. Quarry LP acquired a new position in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC acquired a new position in shares of City during the 4th quarter worth approximately $36,000. Geneos Wealth Management Inc. increased its holdings in shares of City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of City by 463.2% in the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $52,000 after buying an additional 352 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CHCO shares. Hovde Group increased their price target on City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings raised City from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, City has an average rating of “Hold” and a consensus price target of $136.50.

Insider Activity at City

In other City news, CEO Charles R. Hageboeck sold 4,485 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the transaction, the chief executive officer directly owned 43,998 shares in the company, valued at approximately $6,377,950.08. This represents a 9.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders bought 444 shares of company stock worth $59,740. 1.75% of the stock is owned by corporate insiders.

City Price Performance

Shares of NASDAQ:CHCO opened at $144.68 on Thursday. The firm has a market cap of $2.03 billion, a PE ratio of 15.83 and a beta of 0.48. The firm’s fifty day moving average is $138.97 and its 200-day moving average is $128.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. City Holding Company has a 52 week low of $113.21 and a 52 week high of $148.99.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. Sell-side analysts predict that City Holding Company will post 9.29 earnings per share for the current year.

City Company 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.