City Holding Company (CHCO) Position Maintained by NTV Asset Management LLC
NTV Asset Management LLC maintained its stake in City Holding Company (NASDAQ:CHCO) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,613 shares of the bank’s stock at the end of the second quarter. NTV Asset Management LLC owned 0.10% of City Holding worth $1,028,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its stake in City Holding by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock worth $241,000 after buying an additional 28 shares during the period. Victory Capital Management Inc. boosted its position in shares of City Holding by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock valued at $201,000 after buying an additional 458 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of City Holding by 51.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,770 shares of the bank’s stock valued at $314,000 after buying an additional 1,611 shares during the period. Legal & General Group Plc boosted its position in shares of City Holding by 8.3% in the second quarter. Legal & General Group Plc now owns 30,361 shares of the bank’s stock valued at $2,000,000 after buying an additional 2,327 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of City Holding by 34.8% in the second quarter. First Trust Advisors LP now owns 38,774 shares of the bank’s stock valued at $2,554,000 after buying an additional 10,005 shares during the period. Institutional investors and hedge funds own 62.53% of the company’s stock.
City Holding Company (CHCO) opened at 63.03 on Monday. The firm has a market cap of $984.34 million, a PE ratio of 16.49 and a beta of 0.84. The company has a 50-day moving average price of $64.35 and a 200 day moving average price of $65.42. City Holding Company has a 12 month low of $48.40 and a 12 month high of $74.90.
City Holding (NASDAQ:CHCO) last announced its earnings results on Monday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.11. City Holding had a net margin of 29.07% and a return on equity of 12.62%. The company had revenue of $46.18 million during the quarter, compared to the consensus estimate of $46.45 million. During the same period in the previous year, the firm posted $0.83 earnings per share. Equities research analysts anticipate that City Holding Company will post $3.87 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Wednesday, July 12th. City Holding’s dividend payout ratio is presently 45.95%.
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Several equities analysts recently issued reports on the company. BidaskClub upgraded City Holding from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research upgraded City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, July 26th. Finally, ValuEngine upgraded City Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $70.33.
In related news, EVP John A. Derito sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $63.37, for a total transaction of $126,740.00. Following the completion of the sale, the executive vice president now directly owns 22,843 shares of the company’s stock, valued at $1,447,560.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John A. Derito sold 2,688 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.85, for a total transaction of $168,940.80. Following the sale, the executive vice president now directly owns 22,844 shares of the company’s stock, valued at $1,435,745.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,587 shares of company stock valued at $356,408. 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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