Centiva Capital LP Acquires Shares of 2,516 City Holding (NASDAQ:CHCO)

Centiva Capital LP acquired a new stake in shares of City Holding (NASDAQ:CHCO) in the third quarter, Holdings Channel reports. The fund acquired 2,516 shares of the bank’s stock, valued at approximately $295,000.

A number of other hedge funds also recently bought and sold shares of CHCO. Charles Schwab Investment Management Inc. lifted its stake in City by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock valued at $62,044,000 after buying an additional 15,910 shares in the last quarter. Nicholson Wealth Management Group LLC purchased a new stake in City during the third quarter valued at about $1,449,000. Dimensional Fund Advisors LP lifted its stake in City by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after buying an additional 10,740 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of City by 137.5% in the second quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after purchasing an additional 6,312 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of City by 6.0% in the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock worth $9,349,000 after purchasing an additional 4,989 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHCO has been the subject of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $135.00 price target on shares of City in a research report on Friday, November 8th. Keefe, Bruyette & Woods increased their price target on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

City Price Performance

Shares of CHCO opened at $128.87 on Wednesday. The firm has a market cap of $1.89 billion, a PE ratio of 16.54 and a beta of 0.49. The firm’s 50 day moving average price is $123.92 and its 200 day moving average price is $116.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28.

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

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, January 15th. City’s payout ratio is presently 40.56%.

Insider Activity at City

In other City news, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the transaction, the director now owns 23,637 shares in the company, valued at $3,151,521.21. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were 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 in the company, 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. Over the last quarter, insiders have sold 9,092 shares of company stock valued at $1,196,697. 2.39% of the stock is currently owned by corporate insiders.

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.