Illinois Municipal Retirement Fund Sells 242 Shares of City Holding (NASDAQ:CHCO)

Illinois Municipal Retirement Fund lessened its stake in shares of City Holding (NASDAQ:CHCO) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,197 shares of the bank’s stock after selling 242 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of City worth $904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of City by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock worth $35,940,000 after buying an additional 16,123 shares during the period. American Century Companies Inc. raised its position in City by 4.4% in the 3rd quarter. American Century Companies Inc. now owns 69,998 shares of the bank’s stock valued at $6,324,000 after purchasing an additional 2,924 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in City by 8.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 40,092 shares of the bank’s stock valued at $3,622,000 after purchasing an additional 3,007 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in City by 205.3% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 13,189 shares of the bank’s stock valued at $1,192,000 after purchasing an additional 8,869 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in City by 2.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after purchasing an additional 301 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Analysts Set New Price Targets

CHCO has been the subject of several research analyst reports. Stephens cut their price objective on City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Thursday. Piper Sandler lifted their target price on City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $110.00 target price (up from $100.00) on shares of City in a research note on Thursday.

City Stock Down 1.0 %

Shares of City stock opened at $104.11 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. City Holding has a 12 month low of $82.53 and a 12 month high of $115.89. The business has a fifty day simple moving average of $101.82 and a 200 day simple moving average of $101.31. The stock has a market cap of $1.55 billion, a PE ratio of 13.10 and a beta of 0.51.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.86 annualized dividend and a yield of 2.75%. City’s dividend payout ratio is presently 35.97%.

Insiders Place Their Bets

In other news, EVP John A. Derito sold 1,309 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.25, for a total value of $132,536.25. Following the sale, the executive vice president now directly owns 28,620 shares in the company, valued at $2,897,775. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the sale, the executive vice president now owns 28,620 shares in the company, valued at $2,897,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 8,899 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $101.00, for a total value of $898,799.00. Following the sale, the chief executive officer now owns 53,218 shares in the company, valued at approximately $5,375,018. The disclosure for this sale can be found here. Corporate insiders own 2.45% of the company’s stock.

About City

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.