California State Teachers Retirement System reduced its stake in shares of City Holding Company (NASDAQ:CHCO) by 9.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 24,260 shares of the bank’s stock after selling 2,635 shares during the quarter. California State Teachers Retirement System’s holdings in City were worth $1,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings in City by 5.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 71,614 shares of the bank’s stock worth $5,150,000 after acquiring an additional 3,569 shares in the last quarter. Wells Fargo & Company MN grew its holdings in City by 11.9% during the 3rd quarter. Wells Fargo & Company MN now owns 39,488 shares of the bank’s stock worth $2,839,000 after acquiring an additional 4,198 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in City by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock worth $36,713,000 after acquiring an additional 15,216 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in City by 59.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the bank’s stock worth $421,000 after acquiring an additional 2,170 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in City by 83.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,774 shares of the bank’s stock worth $631,000 after acquiring an additional 4,004 shares in the last quarter. 64.97% of the stock is owned by institutional investors.

In other news, CFO David L. Bumgarner sold 1,000 shares of City stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the chief financial officer now directly owns 10,965 shares of the company’s stock, valued at approximately $800,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.88% of the company’s stock.

City Holding Company (CHCO) opened at $69.15 on Friday. City Holding Company has a fifty-two week low of $58.80 and a fifty-two week high of $74.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $1,080.00, a PE ratio of 18.05, a PEG ratio of 1.64 and a beta of 0.84.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. City had a net margin of 29.25% and a return on equity of 12.34%. The business had revenue of $45.90 million during the quarter, compared to analyst estimates of $47.18 million. During the same period in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. analysts anticipate that City Holding Company will post 3.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be issued a $0.46 dividend. The ex-dividend date is Thursday, January 11th. This is a positive change from City’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 2.66%. City’s payout ratio is 48.04%.

CHCO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of City from a “sell” rating to a “hold” rating and set a $78.00 price objective for the company in a report on Friday, December 22nd. BidaskClub lowered shares of City from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Sandler O’Neill set a $72.00 price objective on shares of City and gave the stock a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $70.75.

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City 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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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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