Leeward Investments LLC MA Lowers Stake in City Holding (NASDAQ:CHCO)

Leeward Investments LLC MA cut its stake in City Holding (NASDAQ:CHCO) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,232 shares of the bank’s stock after selling 3,618 shares during the period. Leeward Investments LLC MA’s holdings in City were worth $8,779,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CHCO. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of City in the fourth quarter worth approximately $38,000. Federated Hermes Inc. boosted its position in shares of City by 28.0% in the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after acquiring an additional 249 shares during the last quarter. CIC Wealth LLC acquired a new stake in shares of City in the fourth quarter worth approximately $210,000. Lido Advisors LLC acquired a new stake in shares of City in the third quarter worth approximately $237,000. Finally, Alps Advisors Inc. boosted its position in shares of City by 9.1% in the third quarter. Alps Advisors Inc. now owns 3,753 shares of the bank’s stock worth $339,000 after acquiring an additional 313 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

City Trading Up 0.0 %

CHCO stock traded up $0.03 during midday trading on Friday, reaching $105.54. 601 shares of the company’s stock traded hands, compared to its average volume of 59,078. The company has a market capitalization of $1.56 billion, a P/E ratio of 13.27 and a beta of 0.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a fifty-two week low of $86.56 and a fifty-two week high of $115.89. The business has a 50-day moving average price of $103.57 and a two-hundred day moving average price of $103.75.

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

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, July 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.71%. City’s dividend payout ratio is currently 35.97%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CHCO shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $110.00 target price (up from $100.00) on shares of City in a research report on Thursday, April 25th. Stephens reduced their price target on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Finally, Hovde Group lifted their price target on shares of City from $110.00 to $113.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $106.75.

Insider Activity

In other news, EVP John A. Derito sold 2,887 shares of City stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $104.82, for a total transaction of $302,615.34. Following the sale, the executive vice president now owns 31,369 shares in the company, valued at $3,288,098.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of City stock in a transaction on Friday, April 26th. The shares were sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the sale, the executive vice president now owns 3,400 shares in the company, valued at $356,116. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Derito sold 2,887 shares of City stock in a transaction on Friday, May 17th. The stock was sold at an average price of $104.82, for a total transaction of $302,615.34. Following the completion of the sale, the executive vice president now owns 31,369 shares of the company’s stock, valued at approximately $3,288,098.58. The disclosure for this sale can be found here. Insiders have sold 10,821 shares of company stock worth $1,130,250 over the last 90 days. Company insiders own 2.39% of the company’s stock.

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.