Thrivent Financial for Lutherans Trims Holdings in City Holding (NASDAQ:CHCO)

Thrivent Financial for Lutherans reduced its holdings in shares of City Holding (NASDAQ:CHCO) by 5.8% in the third quarter, HoldingsChannel reports. The fund owned 11,545 shares of the bank’s stock after selling 710 shares during the period. Thrivent Financial for Lutherans’ holdings in City were worth $1,355,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CHCO. GAMMA Investing LLC increased its stake in shares of City by 95.8% during 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 bought a new position in City during the 3rd quarter valued at approximately $59,000. Crossmark Global Holdings Inc. purchased a new position in City during the third quarter valued at $199,000. Intech Investment Management LLC purchased a new stake in shares of City in the second quarter worth $208,000. Finally, Commonwealth Equity Services LLC raised its position in shares of City by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock worth $226,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In other City news, CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the transaction, the chief executive officer now owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. This represents a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John A. Derito sold 1,243 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total value of $170,203.99. Following the sale, the executive vice president now owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,092 shares of company stock worth $1,196,697 over the last quarter. Company insiders own 2.45% of the company’s stock.

Analysts Set New Price Targets

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

City Stock Performance

Shares of CHCO opened at $131.32 on Friday. City Holding has a 12 month low of $96.01 and a 12 month high of $137.28. The business’s fifty day simple moving average is $121.99 and its two-hundred day simple moving average is $114.79. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 16.86 and a beta of 0.46.

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

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.41%. City’s payout ratio is 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.