Price T Rowe Associates Inc. MD Buys 893 Shares of City Holding (NASDAQ:CHCO)

Price T Rowe Associates Inc. MD increased its stake in City Holding (NASDAQ:CHCO) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,498 shares of the bank’s stock after buying an additional 893 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.09% of City worth $1,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CHCO. Sterling Capital Management LLC lifted its stake in City by 781.3% in the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock valued at $50,000 after acquiring an additional 375 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock valued at $56,000 after purchasing an additional 405 shares during the last quarter. KBC Group NV grew its holdings in City by 60.3% during the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after purchasing an additional 317 shares during the period. PNC Financial Services Group Inc. increased its position in City by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after buying an additional 131 shares during the last quarter. Finally, Longboard Asset Management LP bought a new stake in City in the fourth quarter valued at approximately $211,000. 72.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their target price on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, January 24th.

City Stock Performance

NASDAQ CHCO opened at $119.30 on Friday. The stock has a market cap of $1.76 billion, a PE ratio of 15.12 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50-day moving average of $115.61 and a 200-day moving average of $120.04. City Holding has a 52-week low of $99.63 and a 52-week high of $137.28.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.22. The firm had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. On average, sell-side analysts anticipate that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, April 15th. City’s payout ratio is 39.60%.

Insider Activity

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total value of $162,708.00. Following the completion of the sale, the executive vice president now directly owns 2,830 shares in the company, valued at approximately $328,902.60. The trade was a 33.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David L. Bumgarner sold 1,058 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total value of $124,844.00. Following the sale, the chief financial officer now directly owns 10,636 shares in the company, valued at $1,255,048. This represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,069 shares of company stock valued at $359,820. 1.87% of the stock is owned by company insiders.

City 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.