State Street Corp reduced its holdings in City Holding Company (NASDAQ:CHCO) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 485,546 shares of the bank’s stock after selling 3,559 shares during the quarter. State Street Corp owned 3.11% of City Holding worth $31,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CHCO. BlackRock Inc. increased its position in City Holding by 43,960.3% in the 1st quarter. BlackRock Inc. now owns 1,906,489 shares of the bank’s stock valued at $122,929,000 after acquiring an additional 1,902,162 shares during the period. JPMorgan Chase & Co. increased its position in shares of City Holding by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock valued at $32,797,000 after purchasing an additional 106,203 shares during the period. Vanguard Group Inc. increased its position in shares of City Holding by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 1,412,228 shares of the bank’s stock valued at $91,061,000 after purchasing an additional 61,429 shares during the period. Zacks Investment Management acquired a new position in shares of City Holding during the 2nd quarter valued at $2,178,000. Finally, WBI Investments Inc. acquired a new position in shares of City Holding during the 2nd quarter valued at $1,491,000. Hedge funds and other institutional investors own 62.48% of the company’s stock.

In related news, CEO Charles R. Hageboeck sold 2,000 shares of City Holding stock in a transaction on Monday, August 28th. The stock was sold at an average price of $62.78, for a total value of $125,560.00. Following the transaction, the chief executive officer now directly owns 72,984 shares in the company, valued at approximately $4,581,935.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.88% of the company’s stock.

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City Holding Company (NASDAQ CHCO) opened at $65.50 on Friday. City Holding Company has a 1 year low of $54.69 and a 1 year high of $74.90. The stock has a market capitalization of $1,026.26, a price-to-earnings ratio of 17.11, a PEG ratio of 1.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, October 12th. City Holding’s payout ratio is 45.83%.

Several brokerages have recently issued reports on CHCO. BidaskClub cut City Holding from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 20th. 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.33.

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

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