Price T Rowe Associates Inc. MD Acquires 893 Shares of City Holding (NASDAQ:CHCO)

Price T Rowe Associates Inc. MD grew its holdings in shares of City Holding (NASDAQ:CHCO) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 12,498 shares of the bank’s stock after buying an additional 893 shares during the period. Price T Rowe Associates Inc. MD’s holdings in City were worth $1,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dark Forest Capital Management LP lifted its stake in City by 33.0% in the 4th quarter. Dark Forest Capital Management LP now owns 6,881 shares of the bank’s stock valued at $815,000 after purchasing an additional 1,706 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of City by 3.7% in the 4th quarter. MetLife Investment Management LLC now owns 8,719 shares of the bank’s stock valued at $1,033,000 after acquiring an additional 310 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of City by 7.9% during the 4th quarter. First Trust Advisors LP now owns 53,225 shares of the bank’s stock valued at $6,306,000 after acquiring an additional 3,902 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in City by 3.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,229 shares of the bank’s stock worth $1,682,000 after acquiring an additional 454 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in City in the 4th quarter worth about $404,000. Institutional investors own 72.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price target on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th.

City Trading Up 2.2 %

CHCO opened at $119.30 on Friday. The company’s 50 day moving average price is $115.61 and its two-hundred day moving average price is $120.04. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 15.12 and a beta of 0.52. City Holding has a fifty-two week low of $99.63 and a fifty-two week high of $137.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.22. The business had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, research analysts predict that City Holding will post 7.58 earnings per share for the current year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.79 per share. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.65%. City’s dividend payout ratio (DPR) is 39.60%.

Insider Buying and Selling

In other news, CFO David L. Bumgarner sold 441 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $118.00, for a total value of $52,038.00. Following the transaction, the chief financial officer now directly owns 10,195 shares of the company’s stock, valued at $1,203,010. The trade was a 4.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $116.22, for a total value of $162,708.00. Following the sale, the executive vice president now directly owns 2,830 shares of the company’s stock, valued at $328,902.60. This represents a 33.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,069 shares of company stock valued at $359,820 over the last ninety days. 1.87% of the stock is owned by company insiders.

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.