AlphaQuest LLC Reduces Stake in City Holding Company $CHCO

AlphaQuest LLC reduced its holdings in City Holding Company (NASDAQ:CHCO) by 77.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,573 shares of the bank’s stock after selling 8,811 shares during the quarter. AlphaQuest LLC’s holdings in City were worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHCO. State Street Corp lifted its position in shares of City by 1.0% in the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock worth $78,247,000 after purchasing an additional 6,371 shares during the period. Axxcess Wealth Management LLC raised its stake in City by 0.4% in the second quarter. Axxcess Wealth Management LLC now owns 109,751 shares of the bank’s stock worth $13,436,000 after buying an additional 485 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in City by 11.2% in the second quarter. Qube Research & Technologies Ltd now owns 79,284 shares of the bank’s stock worth $9,706,000 after buying an additional 7,955 shares during the period. Bank of America Corp DE lifted its holdings in City by 0.3% in the second quarter. Bank of America Corp DE now owns 77,767 shares of the bank’s stock worth $9,520,000 after buying an additional 198 shares during the period. Finally, First Trust Advisors LP boosted its position in City by 16.0% during the 2nd quarter. First Trust Advisors LP now owns 51,794 shares of the bank’s stock valued at $6,341,000 after acquiring an additional 7,125 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $120.68, for a total value of $243,411.56. Following the completion of the transaction, the chief executive officer owned 50,359 shares of the company’s stock, valued at approximately $6,077,324.12. The trade was a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen cut City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Piper Sandler increased their price objective on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $134.50.

City Price Performance

Shares of NASDAQ:CHCO opened at $127.84 on Monday. The business has a fifty day moving average price of $123.33 and a 200-day moving average price of $123.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $1.84 billion, a PE ratio of 14.30 and a beta of 0.52. City Holding Company has a 1-year low of $102.22 and a 1-year high of $133.59.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The firm had revenue of $60.83 million during the quarter, compared to analysts’ expectations of $81.38 million. As a group, equities analysts expect that City Holding Company will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. City’s dividend payout ratio (DPR) is 38.93%.

About City

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.