Mutual of America Capital Management LLC Sells 87 Shares of City Holding Company (NASDAQ:CHCO)

Mutual of America Capital Management LLC reduced its holdings in City Holding Company (NASDAQ:CHCO) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,141 shares of the bank’s stock after selling 87 shares during the quarter. Mutual of America Capital Management LLC’s holdings in City were worth $252,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in City by 69.7% in the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. CWM LLC increased its stake in City by 43.9% in the 1st quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after acquiring an additional 86 shares during the last quarter. Sterling Capital Management LLC increased its stake in City by 781.3% in the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after acquiring an additional 375 shares during the last quarter. First United Bank & Trust bought a new position in City in the 1st quarter worth about $78,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of City by 10.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock valued at $170,000 after purchasing an additional 140 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.06, for a total transaction of $327,650.00. Following the completion of the sale, the executive vice president directly owned 7,037 shares in the company, valued at $922,269.22. This represents a 26.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the sale, the executive vice president owned 1,830 shares of the company’s stock, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 305 shares of company stock valued at $38,750 over the last 90 days. 1.87% of the stock is currently owned by company insiders.

City Trading Up 1.0%

Shares of CHCO stock opened at $124.40 on Thursday. The stock has a market capitalization of $1.80 billion, a PE ratio of 14.97 and a beta of 0.56. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28. The business has a 50-day moving average of $122.60 and a 200 day moving average of $119.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81.

City (NASDAQ:CHCO) last issued its earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.32. The company had revenue of $78.16 million during the quarter, compared to analysts’ expectations of $76.10 million. City had a return on equity of 16.30% and a net margin of 31.35%. As a group, sell-side analysts anticipate that City Holding Company will post 7.58 earnings per share for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, July 15th. This represents a $3.16 annualized dividend and a yield of 2.5%. City’s dividend payout ratio is currently 38.03%.

Wall Street Analysts Forecast Growth

CHCO has been the topic of several recent research reports. Hovde Group increased their price objective on City from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price objective on City from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, DA Davidson increased their price objective on City from $128.00 to $137.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.25.

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.