Quest Partners LLC Increases Holdings in City Holding (NASDAQ:CHCO)

Quest Partners LLC increased its stake in City Holding (NASDAQ:CHCO) by 14.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,601 shares of the bank’s stock after purchasing an additional 1,063 shares during the quarter. Quest Partners LLC’s holdings in City were worth $1,010,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of City by 95.8% in the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after purchasing an additional 113 shares in the last quarter. nVerses Capital LLC purchased a new position in City during the third quarter worth about $59,000. Bessemer Group Inc. grew its position 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 position in City during the first quarter worth about $180,000. Finally, Crossmark Global Holdings Inc. purchased a new position in City during the third quarter worth about $199,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at City

In other news, Director C Dallas Kayser sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares of the company’s stock, valued at approximately $3,151,521.21. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the sale, the chief executive officer now directly owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. This trade represents a 11.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.39% of the company’s stock.

City Price Performance

City stock opened at $128.41 on Thursday. City Holding has a 52 week low of $95.39 and a 52 week high of $136.51. The business has a 50-day simple moving average of $120.17 and a 200 day simple moving average of $113.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 16.48 and a beta of 0.46.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The firm had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. On average, research analysts forecast that City Holding will post 7.84 earnings per share for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.79 dividend. This is a boost from City’s previous quarterly dividend of $0.72. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Tuesday, October 15th. City’s dividend payout ratio is presently 40.56%.

Wall Street Analyst Weigh In

Separately, Piper Sandler restated a “neutral” rating and set a $135.00 target price on shares of City in a research report on Friday, November 8th.

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.