City Holding (NASDAQ:CHCO) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in shares of City Holding (NASDAQ:CHCO) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,213 shares of the bank’s stock after selling 860 shares during the period. New York State Teachers Retirement System’s holdings in City were worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased 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 during the period. DAVENPORT & Co LLC boosted its stake in shares of City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock worth $524,000 after buying an additional 176 shares during the last quarter. Intech Investment Management LLC boosted its stake 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 worth $263,000 after buying an additional 290 shares during the last quarter. KBC Group NV boosted its stake in shares of City by 60.3% in the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after buying an additional 317 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of City by 16.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,794 shares of the bank’s stock worth $328,000 after buying an additional 400 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other City news, Director Charles W. Fairchilds sold 500 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 1,014 shares of the company’s stock, valued at $122,187. This trade represents a 33.03 % 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. Also, EVP John A. Derito sold 1,243 shares of City stock in a transaction on Monday, November 25th. The shares were sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the sale, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,299 shares of company stock valued at $297,174 over the last quarter. 2.45% of the stock is owned by insiders.

City Price Performance

NASDAQ:CHCO opened at $117.19 on Friday. City Holding has a one year low of $97.50 and a one year high of $137.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $1.72 billion, a PE ratio of 14.85 and a beta of 0.51. The stock has a 50 day moving average price of $119.36 and a 200 day moving average price of $120.23.

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

Analyst Ratings Changes

CHCO has been the topic of a number of recent research reports. Piper Sandler lowered their target price on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

About City

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.