Rhumbline Advisers Sells 2,252 Shares of City Holding (NASDAQ:CHCO)

Rhumbline Advisers trimmed its holdings in shares of City Holding (NASDAQ:CHCO) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,081 shares of the bank’s stock after selling 2,252 shares during the period. Rhumbline Advisers’ holdings in City were worth $5,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in City by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock worth $62,044,000 after buying an additional 15,910 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of City by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock worth $41,792,000 after acquiring an additional 1,065 shares during the period. Barclays PLC increased its holdings in City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after acquiring an additional 16,044 shares during the last quarter. Jane Street Group LLC raised its stake in City by 66.6% in the 3rd quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock valued at $2,937,000 after acquiring an additional 9,999 shares during the period. Finally, Zacks Investment Management lifted its holdings in City by 6.8% during the third quarter. Zacks Investment Management now owns 21,610 shares of the bank’s stock valued at $2,537,000 after purchasing an additional 1,373 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other City news, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the sale, the chief financial officer now owns 9,395 shares of the company’s stock, valued at $1,127,400. This trade represents a 5.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the transaction, the director now directly owns 1,014 shares of the company’s stock, valued at $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHCO shares. Piper Sandler reduced their target price on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. 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 research note on Wednesday, December 4th.

City Stock Up 0.3 %

CHCO stock opened at $117.61 on Friday. The stock has a 50-day simple moving average of $118.79 and a two-hundred day simple moving average of $120.37. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28. The firm has a market capitalization of $1.73 billion, a PE ratio of 14.91 and a beta of 0.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. On average, equities analysts predict 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.