Louisiana State Employees Retirement System Has $833,000 Holdings in City Holding (NASDAQ:CHCO)

Louisiana State Employees Retirement System decreased its position in shares of City Holding (NASDAQ:CHCO) by 4.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,100 shares of the bank’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in City were worth $833,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted 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 purchasing an additional 113 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of City during the third quarter valued at approximately $59,000. Bessemer Group Inc. grew its holdings in City by 90.7% during the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after buying an additional 604 shares in the last quarter. SG Americas Securities LLC purchased a new stake in City in the 1st quarter valued at $180,000. Finally, Intech Investment Management LLC bought a new position in City during the 2nd quarter valued at $208,000. 72.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at City

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now directly owns 18,233 shares in the company, valued at approximately $2,096,795. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 $231,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.45% of the company’s stock.

City Stock Performance

NASDAQ CHCO opened at $115.22 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.80. The company has a fifty day moving average price of $117.17 and a 200-day moving average price of $111.34. City Holding has a 1 year low of $92.76 and a 1 year high of $125.54. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 14.81 and a beta of 0.46.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The company had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. As a group, equities research analysts predict that City Holding will post 7.78 EPS for the current fiscal year.

City Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.74%. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, October 15th. City’s payout ratio is presently 40.56%.

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.