Vanguard Group Inc. Purchases 3,981 Shares of City Holding (NASDAQ:CHCO)

Vanguard Group Inc. boosted its position in shares of City Holding (NASDAQ:CHCO) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,785,222 shares of the bank’s stock after purchasing an additional 3,981 shares during the period. Vanguard Group Inc. owned approximately 0.12% of City worth $196,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of City during the fourth quarter valued at approximately $599,000. Rafferty Asset Management LLC raised its stake in shares of City by 73.8% in the fourth quarter. Rafferty Asset Management LLC now owns 15,505 shares of the bank’s stock worth $1,710,000 after purchasing an additional 6,583 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of City by 74.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 4,761 shares of the bank’s stock valued at $525,000 after purchasing an additional 2,032 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in shares of City during the fourth quarter valued at $531,000. Finally, Quest Partners LLC purchased a new stake in shares of City during the fourth quarter valued at $627,000. 72.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHCO has been the topic of several research analyst reports. Stephens lowered their target price on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $110.00 target price (up from $100.00) on shares of City in a research note on Thursday, April 25th. Finally, Hovde Group raised their price target on City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, City currently has an average rating of “Hold” and an average price target of $106.75.

Insider Activity

In other news, Director James M. Parsons bought 400 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $102.11 per share, with a total value of $40,844.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $51,055. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other City news, Director James M. Parsons purchased 400 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $102.11 per share, with a total value of $40,844.00. Following the acquisition, the director now owns 500 shares in the company, valued at $51,055. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $104.74, for a total transaction of $185,704.02. Following the sale, the executive vice president now directly owns 3,400 shares of the company’s stock, valued at $356,116. The disclosure for this sale can be found here. Insiders have sold 10,821 shares of company stock worth $1,130,250 in the last three months. Company insiders own 2.39% of the company’s stock.

City Stock Up 1.1 %

Shares of CHCO stock opened at $106.89 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. City Holding has a 12 month low of $86.56 and a 12 month high of $115.89. The stock has a market cap of $1.58 billion, a P/E ratio of 13.45 and a beta of 0.48. The company has a 50 day simple moving average of $103.58 and a two-hundred day simple moving average of $103.73.

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

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.68%. City’s payout ratio is currently 35.97%.

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.