Victory Capital Management Inc. Boosts Stock Position in City Holding (NASDAQ:CHCO)

Victory Capital Management Inc. raised its stake in shares of City Holding (NASDAQ:CHCO) by 6.4% in the 2nd quarter, Holdings Channel reports. The fund owned 8,539 shares of the bank’s stock after acquiring an additional 513 shares during the quarter. Victory Capital Management Inc.’s holdings in City were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its stake in City by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after acquiring an additional 91 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in City by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC raised its stake in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after acquiring an additional 113 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in City by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank’s stock valued at $1,350,000 after acquiring an additional 140 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in City by 5.9% during the 1st quarter. ProShare Advisors LLC now owns 2,955 shares of the bank’s stock valued at $308,000 after acquiring an additional 165 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares in the company, valued at approximately $231,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares in the company, valued at approximately $231,240. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles R. Hageboeck sold 7,244 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now owns 45,974 shares in the company, valued at approximately $5,683,305.88. The disclosure for this sale can be found here. Insiders have sold a total of 9,413 shares of company stock worth $1,149,561 in the last quarter. Company insiders own 2.45% of the company’s stock.

City Stock Performance

NASDAQ CHCO opened at $119.09 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $117.10 and its two-hundred day moving average is $107.95. City Holding has a 12-month low of $86.56 and a 12-month high of $125.54. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 14.98 and a beta of 0.47.

City (NASDAQ:CHCO) last released its earnings results on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08. The company had revenue of $94.90 million for the quarter, compared to analysts’ expectations of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. Research analysts expect that City Holding will post 7.73 EPS for the current year.

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.