City Holding (NASDAQ:CHCO) Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its stake in shares of City Holding (NASDAQ:CHCO) by 16.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,222 shares of the bank’s stock after selling 1,379 shares during the period. AlphaQuest LLC’s holdings in City were worth $856,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CHCO. PNC Financial Services Group Inc. grew its holdings in shares of City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock valued at $162,000 after purchasing an additional 131 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of City by 1.6% in the third quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock valued at $1,018,000 after purchasing an additional 137 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after purchasing an additional 176 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of City by 14.8% in the third quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock valued at $263,000 after purchasing an additional 290 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of City by 60.3% in the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after purchasing an additional 317 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at City

In other news, CFO David L. Bumgarner sold 556 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the sale, the chief financial officer now owns 9,395 shares in the company, valued at approximately $1,127,400. The trade was a 5.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the sale, the director now owns 1,014 shares of the company’s stock, valued at $122,187. This represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,226 shares of company stock worth $147,200. 2.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHCO. Keefe, Bruyette & Woods lifted their price objective on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th.

City Stock Down 1.9 %

Shares of City stock opened at $114.61 on Tuesday. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28. The company has a 50 day moving average of $118.12 and a 200 day moving average of $120.62. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.68 billion, a P/E ratio of 14.53 and a beta of 0.48.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, research analysts forecast that City Holding will post 7.58 EPS for the current fiscal year.

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.