SG Americas Securities LLC Has $825,000 Position in City Holding Company $CHCO

SG Americas Securities LLC trimmed its holdings in shares of City Holding Company (NASDAQ:CHCO) by 37.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,901 shares of the bank’s stock after selling 4,125 shares during the period. SG Americas Securities LLC’s holdings in City were worth $825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in City in the fourth quarter valued at approximately $29,000. First Horizon Corp lifted its stake in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Quarry LP bought a new position in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC bought a new position in City during the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Stock Performance

Shares of CHCO stock opened at $134.85 on Monday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 14.85 and a beta of 0.49. The stock has a 50-day moving average of $126.37 and a 200-day moving average of $124.04. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. City Holding Company has a 1-year low of $113.21 and a 1-year high of $136.17.

City (NASDAQ:CHCO) last announced its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. The business had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. On average, equities research analysts forecast that City Holding Company will post 8.99 earnings per share for the current year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, July 15th. City’s dividend payout ratio (DPR) is currently 38.33%.

City announced that its Board of Directors has approved a share repurchase program on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on CHCO. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th. Hovde Group upped their price objective on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $134.25.

Insider Buying and Selling at City

In other City news, CFO David L. Bumgarner sold 1,161 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the sale, the chief financial officer owned 10,666 shares in the company, valued at approximately $1,327,917. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 1,858 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $124.40, for a total transaction of $231,135.20. Following the transaction, the chief executive officer owned 48,483 shares in the company, valued at approximately $6,031,285.20. The trade was a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 455 shares of company stock worth $57,018 and sold 12,975 shares worth $1,622,853. 1.75% of the stock is owned by company insiders.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.