Hsbc Holdings PLC Boosts Stock Holdings in City Holding Company $CHCO

Hsbc Holdings PLC grew its position in shares of City Holding Company (NASDAQ:CHCO) by 93.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,269 shares of the bank’s stock after buying an additional 1,583 shares during the quarter. Hsbc Holdings PLC’s holdings in City were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of City by 43.9% during the first quarter. CWM LLC now owns 282 shares of the bank’s stock valued at $33,000 after buying an additional 86 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of City by 10.8% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock valued at $170,000 after buying an additional 140 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of City by 2.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,247 shares of the bank’s stock valued at $977,000 after buying an additional 235 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of City by 0.4% during the first quarter. Invesco Ltd. now owns 76,397 shares of the bank’s stock valued at $8,974,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Stock Down 0.4%

Shares of City stock opened at $127.93 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 15.39 and a beta of 0.57. The company’s 50 day moving average is $125.13 and its 200 day moving average is $119.87.

City (NASDAQ:CHCO) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.32. City had a net margin of 31.35% and a return on equity of 16.30%. The business had revenue of $78.16 million for the quarter, compared to the consensus estimate of $76.10 million. Research analysts anticipate that City Holding Company will post 7.58 EPS for the current year.

Insider Activity at City

In other City news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the transaction, the executive vice president directly owned 1,830 shares in the company, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 7,037 shares in the company, valued at $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 305 shares of company stock worth $38,750 over the last quarter. Insiders own 1.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CHCO. Keefe, Bruyette & Woods increased their price target on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Hovde Group increased their price objective on shares of City from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of 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 shares of City from $128.00 to $137.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, City has a consensus rating of “Hold” and an average price target of $133.25.

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.