City Holding (NASDAQ:CHCO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of City Holding (NASDAQ:CHCO) by 24.1% in the 4th quarter, Holdings Channel reports. The fund owned 6,878 shares of the bank’s stock after selling 2,178 shares during the quarter. Victory Capital Management Inc.’s holdings in City were worth $758,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of City by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock worth $35,940,000 after acquiring an additional 16,123 shares during the last quarter. Dupree Financial Group LLC acquired a new stake in City during the fourth quarter worth about $1,165,000. Jackson Creek Investment Advisors LLC purchased a new position in City during the fourth quarter worth about $1,047,000. State Board of Administration of Florida Retirement System raised its stake in City by 205.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 13,189 shares of the bank’s stock worth $1,192,000 after purchasing an additional 8,869 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of City in the 3rd quarter valued at approximately $762,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Trading Down 0.2 %

CHCO opened at $102.77 on Thursday. City Holding has a 52 week low of $85.41 and a 52 week high of $115.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $102.62 and a 200-day simple moving average of $102.86. The firm has a market cap of $1.52 billion, a P/E ratio of 12.93 and a beta of 0.50.

City (NASDAQ:CHCO) last announced its earnings results on Tuesday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.13. The company had revenue of $72.60 million during the quarter, compared to analysts’ expectations of $71.45 million. City had a return on equity of 18.31% and a net margin of 33.78%. On average, equities analysts expect that City Holding will post 7.65 earnings per share for the current year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $2.86 dividend on an annualized basis and a yield of 2.78%. City’s dividend payout ratio (DPR) is presently 35.97%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Stephens decreased their price target on City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Hovde Group increased their price target on City from $110.00 to $113.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $110.00 price objective (up from $100.00) on shares of City in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $106.75.

Insider Buying and Selling at City

In other news, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,897,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the completion of the transaction, the chief executive officer now owns 53,218 shares in the company, valued at $5,375,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John A. Derito sold 1,309 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the sale, the executive vice president now directly owns 28,620 shares in the company, valued at $2,897,775. The disclosure for this sale can be found here. Insiders sold 21,029 shares of company stock valued at $2,161,586 in the last 90 days. Company insiders own 2.39% of the company’s stock.

City Company Profile

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.