Vanguard Group Inc. Sells 21,689 Shares of City Holding Company $CHCO

Vanguard Group Inc. reduced its stake in City Holding Company (NASDAQ:CHCO) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,669,622 shares of the bank’s stock after selling 21,689 shares during the period. Vanguard Group Inc. owned approximately 0.12% of City worth $199,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CHCO. Two Sigma Investments LP increased its holdings in City by 136.4% in the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after acquiring an additional 71,436 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after acquiring an additional 29,828 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after acquiring an additional 22,536 shares during the last quarter. Marshall Wace LLP bought a new stake in City in the 2nd quarter valued at $2,216,000. Finally, Qube Research & Technologies Ltd increased its holdings in City by 19.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 94,830 shares of the bank’s stock valued at $11,747,000 after acquiring an additional 15,546 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Charles R. Hageboeck sold 5,855 shares of City stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total transaction of $733,631.50. Following the completion of the transaction, the chief executive officer directly owned 50,341 shares of the company’s stock, valued at approximately $6,307,727.30. The trade was a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of City stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total transaction of $152,568.90. Following the transaction, the executive vice president directly owned 3,314 shares of the company’s stock, valued at approximately $417,862.26. This represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders bought 908 shares of company stock valued at $108,939 and sold 9,117 shares valued at $1,143,121. 1.75% of the stock is owned by corporate insiders.

City Stock Performance

City stock opened at $123.01 on Friday. The company’s 50-day moving average price is $121.97 and its 200-day moving average price is $122.39. City Holding Company has a twelve month low of $113.21 and a twelve month high of $133.59. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.74 billion, a PE ratio of 13.55 and a beta of 0.50.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The firm had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. On average, equities research analysts forecast that City Holding Company will post 8.99 EPS for the current fiscal year.

City declared that its board has approved a share repurchase program on Wednesday, March 25th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

City Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City’s payout ratio is currently 38.33%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CHCO shares. Piper Sandler lifted their price target on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Hovde Group boosted their target price on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. One research 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, the company currently has an average rating of “Hold” and a consensus target price of $134.25.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.