Allspring Global Investments Holdings LLC Takes Position in City Holding (NASDAQ:CHCO)

Allspring Global Investments Holdings LLC purchased a new position in City Holding (NASDAQ:CHCO) in the fourth quarter, HoldingsChannel reports. The fund purchased 5,588 shares of the bank’s stock, valued at approximately $662,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of City by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock worth $1,018,000 after purchasing an additional 137 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of City by 4.1% during the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after buying an additional 176 shares during the period. Intech Investment Management LLC boosted its position in City by 14.8% in the third quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock worth $263,000 after purchasing an additional 290 shares during the last quarter. KBC Group NV grew its position in City by 60.3% during the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after buying an additional 317 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of City by 16.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,794 shares of the bank’s stock valued at $328,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Insider Transactions at City

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

City Price Performance

NASDAQ:CHCO opened at $117.19 on Monday. The business’s 50-day simple moving average is $119.36 and its two-hundred day simple moving average is $120.35. City Holding has a 52 week low of $97.50 and a 52 week high of $137.28. The stock has a market cap of $1.72 billion, a PE ratio of 14.85 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 posted its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share 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%. As a group, analysts forecast that City Holding will post 7.58 EPS for the current fiscal year.

Analyst Ratings Changes

CHCO has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price objective on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler decreased their target price on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock 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.