Voya Investment Management LLC Has $618,000 Position in City Holding Company (CHCO)
Voya Investment Management LLC boosted its holdings in City Holding Company (NASDAQ:CHCO) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,379 shares of the bank’s stock after acquiring an additional 499 shares during the quarter. Voya Investment Management LLC owned 0.06% of City Holding worth $618,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in City Holding in the 1st quarter valued at approximately $108,000. Victory Capital Management Inc. increased its position in City Holding by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock valued at $201,000 after acquiring an additional 458 shares during the period. State of Alaska Department of Revenue increased its position in City Holding by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock valued at $202,000 after acquiring an additional 1,361 shares during the period. Neuberger Berman Group LLC increased its position in City Holding by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock valued at $241,000 after acquiring an additional 28 shares during the period. Finally, Trexquant Investment LP acquired a new stake in City Holding in the 2nd quarter valued at approximately $244,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.
In other news, CEO Charles R. Hageboeck sold 2,000 shares of City Holding stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $62.78, for a total value of $125,560.00. Following the completion of the transaction, the chief executive officer now owns 72,984 shares in the company, valued at $4,581,935.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.88% of the company’s stock.
City Holding (NASDAQ:CHCO) last posted its earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. City Holding had a net margin of 29.25% and a return on equity of 12.34%. The company had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $47.18 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. City Holding’s quarterly revenue was up 1.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date was Thursday, October 12th. City Holding’s dividend payout ratio (DPR) is currently 45.83%.
Several research firms recently commented on CHCO. Zacks Investment Research cut City Holding from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. BidaskClub cut City Holding from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.33.
About City Holding
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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