Nisa Investment Advisors LLC Maintains Stake in City Holding Company (CHCO)
Nisa Investment Advisors LLC held its position in City Holding Company (NASDAQ:CHCO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,610 shares of the bank’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in City Holding were worth $165,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miles Capital Inc. increased its stake in shares of City Holding by 0.3% in the first quarter. Miles Capital Inc. now owns 3,262 shares of the bank’s stock valued at $210,000 after buying an additional 10 shares during the period. State of Alaska Department of Revenue raised its position in City Holding by 6.2% in the first quarter. State of Alaska Department of Revenue now owns 1,720 shares of the bank’s stock valued at $110,000 after buying an additional 100 shares in the last quarter. Capital One National Association raised its position in City Holding by 1.1% in the first quarter. Capital One National Association now owns 11,169 shares of the bank’s stock valued at $720,000 after buying an additional 119 shares in the last quarter. Alpha Omega Wealth Management LLC raised its position in City Holding by 5.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 4,356 shares of the bank’s stock valued at $281,000 after buying an additional 222 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in City Holding by 5.0% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the bank’s stock valued at $406,000 after buying an additional 300 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of City Holding Company (NASDAQ:CHCO) traded up 0.24% on Wednesday, hitting $62.60. The stock had a trading volume of 20,592 shares. The company has a 50 day moving average price of $65.31 and a 200-day moving average price of $65.62. The stock has a market cap of $977.62 million, a PE ratio of 16.38 and a beta of 0.84. 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 (EPS) for the quarter, beating the 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 firm had revenue of $46.18 million for the quarter, compared to analysts’ expectations of $46.45 million. During the same period in the prior year, the company earned $0.83 EPS. On average, equities research analysts anticipate that City Holding Company will post $3.87 earnings per share 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. The ex-dividend date was Wednesday, July 12th. This represents a $1.76 dividend on an annualized basis and a yield of 2.82%. City Holding’s dividend payout ratio is currently 45.95%.
CHCO has been the subject of several research reports. Zacks Investment Research lowered City Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine upgraded City Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded City Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $70.33.
In other news, CAO Jeffrey Dale Legge sold 899 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total transaction of $60,727.45. Following the transaction, the chief accounting officer now directly owns 7,151 shares in the company, valued at $483,050.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John A. Derito sold 2,688 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.85, for a total transaction of $168,940.80. Following the transaction, the executive vice president now owns 22,844 shares in the company, valued at $1,435,745.40. The disclosure for this sale can be found here. Insiders sold a total of 26,586 shares of company stock worth $1,726,691 over the last 90 days. 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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