City Holding Company $CHCO Shares Acquired by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC grew its stake in City Holding Company (NASDAQ:CHCO) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,209 shares of the bank’s stock after purchasing an additional 1,057 shares during the period. City makes up approximately 2.8% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 13th biggest holding. Carolina Wealth Advisors LLC owned about 0.32% of City worth $5,657,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in shares of City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. CWM LLC boosted its stake in shares of City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of City by 69.0% in the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock valued at $67,000 after buying an additional 223 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of City in the first quarter valued at approximately $78,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of City in the first quarter valued at approximately $104,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Stock Performance

Shares of NASDAQ:CHCO opened at $122.74 on Friday. The firm has a market capitalization of $1.78 billion, a PE ratio of 14.77 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $124.89 and a two-hundred day moving average of $121.19. City Holding Company has a 12 month low of $102.22 and a 12 month high of $137.28.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $1.97 by $0.32. The company had revenue of $78.16 million during the quarter, compared to analyst estimates of $76.10 million. City had a return on equity of 16.30% and a net margin of 31.35%. As a group, research analysts forecast that City Holding Company will post 7.58 earnings per share for the current year.

City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.87 per share. This is a boost from City’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. City’s payout ratio is currently 38.03%.

Insider Transactions at City

In other news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the sale, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $131.06, for a total value of $327,650.00. Following the completion of the sale, the executive vice president owned 7,037 shares of the company’s stock, valued at approximately $922,269.22. This trade represents a 26.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 305 shares of company stock valued at $38,750. Insiders own 1.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CHCO shares. Zacks Research downgraded City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. DA Davidson boosted their target price on City from $128.00 to $137.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on City from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, City currently has an average rating of “Hold” and a consensus target price of $133.25.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.