Arizona State Retirement System boosted its position in City Holding (NASDAQ:CHCO) by 225.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,249 shares of the bank’s stock after purchasing an additional 18,179 shares during the period. Arizona State Retirement System owned approximately 0.17% of City worth $1,771,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GWM Advisors LLC lifted its position in City by 8.2% in the fourth quarter. GWM Advisors LLC now owns 17,819 shares of the bank’s stock worth $1,194,000 after purchasing an additional 1,351 shares during the period. Wells Fargo & Company MN lifted its position in shares of City by 12.7% during the 4th quarter. Wells Fargo & Company MN now owns 44,501 shares of the bank’s stock valued at $3,003,000 after acquiring an additional 5,013 shares during the last quarter. First Trust Advisors LP lifted its position in shares of City by 5.8% during the 4th quarter. First Trust Advisors LP now owns 36,943 shares of the bank’s stock valued at $2,493,000 after acquiring an additional 2,011 shares during the last quarter. Lbmc Investment Advisors LLC acquired a new stake in shares of City during the 4th quarter valued at $202,000. Finally, California Public Employees Retirement System lifted its position in shares of City by 1.3% during the 4th quarter. California Public Employees Retirement System now owns 66,221 shares of the bank’s stock valued at $4,468,000 after acquiring an additional 848 shares during the last quarter. Hedge funds and other institutional investors own 66.92% of the company’s stock.
Shares of City Holding (CHCO) opened at $72.87 on Tuesday. City Holding has a 52-week low of $58.80 and a 52-week high of $74.90. The company has a market capitalization of $1,120.67, a price-to-earnings ratio of 20.70, a PEG ratio of 2.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91.
In other City news, CEO Charles R. Hageboeck sold 5,114 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $68.29, for a total transaction of $349,235.06. Following the sale, the chief executive officer now directly owns 70,863 shares of the company’s stock, valued at approximately $4,839,234.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.88% of the stock is owned by insiders.
A number of brokerages have recently commented on CHCO. Boenning Scattergood reiterated a “hold” rating on shares of City in a research report on Wednesday, January 24th. Zacks Investment Research upgraded City from a “sell” rating to a “hold” rating and set a $78.00 price objective for the company in a research report on Friday, December 22nd. Sandler O’Neill set a $72.00 price objective on City and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, BidaskClub upgraded City from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.67.
TRADEMARK VIOLATION NOTICE: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/03/13/city-holding-chco-shares-bought-by-arizona-state-retirement-system.html.
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.
Want to see what other hedge funds are holding CHCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for City Holding (NASDAQ:CHCO).
Receive News & Ratings for City Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City and related companies with MarketBeat.com's FREE daily email newsletter.