Intech Investment Management LLC Acquires 3,048 Shares of City Holding (NASDAQ:CHCO)

Intech Investment Management LLC grew its holdings in shares of City Holding (NASDAQ:CHCO) by 135.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,291 shares of the bank’s stock after purchasing an additional 3,048 shares during the period. Intech Investment Management LLC’s holdings in City were worth $627,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock worth $65,253,000 after acquiring an additional 22,226 shares during the last quarter. Barclays PLC raised its holdings in City by 125.3% in the third quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after buying an additional 16,044 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock worth $2,937,000 after buying an additional 9,999 shares in the last quarter. Polaris Capital Management LLC grew its holdings in shares of City by 71.6% during the fourth quarter. Polaris Capital Management LLC now owns 13,895 shares of the bank’s stock valued at $1,646,000 after buying an additional 5,800 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in City in the 4th quarter worth approximately $662,000. 72.43% of the stock is owned by institutional investors.

City Stock Performance

Shares of NASDAQ CHCO opened at $119.85 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a 12-month low of $97.50 and a 12-month high of $137.28. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 15.19 and a beta of 0.48. The firm has a 50 day moving average of $118.12 and a 200 day moving average of $120.55.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 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%. On average, research analysts anticipate that City Holding will post 7.58 earnings per share for the current year.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CHCO. Piper Sandler dropped their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price 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 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.