Citadel Advisors LLC Boosts Stock Holdings in City Holding (NASDAQ:CHCO)

Citadel Advisors LLC boosted its stake in City Holding (NASDAQ:CHCO) by 153.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 25,365 shares of the bank’s stock after buying an additional 15,342 shares during the period. Citadel Advisors LLC’s holdings in City were worth $3,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its stake in City by 1.3% in the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank’s stock worth $1,047,000 after acquiring an additional 114 shares during the period. PNC Financial Services Group Inc. raised its holdings in City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after purchasing an additional 131 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in City by 4.1% in the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock worth $524,000 after purchasing an additional 176 shares in the last quarter. MetLife Investment Management LLC lifted its position 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 worth $1,033,000 after purchasing an additional 310 shares during the period. Finally, KBC Group NV boosted its stake in shares of City by 60.3% during the 4th 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. Institutional investors own 72.43% of the company’s stock.

City Trading Down 0.5%

CHCO opened at $122.20 on Wednesday. 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 Holding has a 52 week low of $99.63 and a 52 week high of $137.28. The stock has a market cap of $1.77 billion, a PE ratio of 15.49 and a beta of 0.52. The business has a 50 day moving average of $116.64 and a 200-day moving average of $120.32.

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

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, April 15th. City’s payout ratio is currently 39.60%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Separately, Piper Sandler decreased their price target 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.

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.