MetLife Investment Management LLC Cuts Stock Position in City Holding Company $CHCO

MetLife Investment Management LLC lessened its stake in City Holding Company (NASDAQ:CHCO) by 1.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,584 shares of the bank’s stock after selling 135 shares during the quarter. MetLife Investment Management LLC’s holdings in City were worth $1,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. boosted its stake in City by 24.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank’s stock worth $74,192,000 after purchasing an additional 123,394 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in City by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank’s stock worth $68,139,000 after purchasing an additional 29,302 shares during the last quarter. Northern Trust Corp boosted its stake in City by 2.3% during the 4th quarter. Northern Trust Corp now owns 178,962 shares of the bank’s stock worth $21,203,000 after purchasing an additional 3,944 shares during the last quarter. American Century Companies Inc. boosted its stake in City by 1.7% during the 1st quarter. American Century Companies Inc. now owns 93,831 shares of the bank’s stock worth $11,022,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in City by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 80,645 shares of the bank’s stock worth $9,473,000 after purchasing an additional 2,635 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Transactions at City

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

City Trading Down 1.2%

Shares of CHCO stock opened at $128.64 on Friday. The company’s 50-day moving average price is $125.56 and its 200-day moving average price is $120.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 15.48 and a beta of 0.57. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28.

City (NASDAQ:CHCO) last announced its quarterly 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 firm had revenue of $78.16 million for the quarter, compared to analysts’ expectations of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. As a group, equities analysts predict that City Holding Company will post 7.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHCO has been the topic of several recent research reports. DA Davidson lifted their target price on shares of City from $128.00 to $137.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of City from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Hovde Group boosted their price target 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. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, City has an average rating of “Hold” and a consensus target price 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.