TIAA CREF Investment Management LLC reduced its stake in City Holding Company (NASDAQ:CHCO) by 5.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,294 shares of the bank’s stock after selling 2,157 shares during the period. TIAA CREF Investment Management LLC owned 0.26% of City Holding worth $2,663,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in City Holding by 6.2% in the first quarter. State of Alaska Department of Revenue now owns 1,720 shares of the bank’s stock worth $110,000 after buying an additional 100 shares during the last quarter. Capital One National Association boosted its position in City Holding by 1.1% in the first quarter. Capital One National Association now owns 11,169 shares of the bank’s stock worth $720,000 after buying an additional 119 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its position in City Holding by 5.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 4,356 shares of the bank’s stock worth $281,000 after buying an additional 222 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in City Holding by 5.0% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the bank’s stock worth $406,000 after buying an additional 300 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in City Holding by 3.9% in the first quarter. Arizona State Retirement System now owns 8,070 shares of the bank’s stock worth $520,000 after buying an additional 300 shares during the last quarter. 62.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of City Holding Company (NASDAQ CHCO) opened at 60.97 on Friday. The firm has a 50-day moving average price of $65.42 and a 200-day moving average price of $65.70. The company has a market cap of $952.17 million, a P/E ratio of 15.95 and a beta of 0.84. City Holding Company has a 1-year low of $48.17 and a 1-year high of $74.90.
City Holding (NASDAQ:CHCO) last announced its earnings results on Monday, July 24th. The bank reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The business had revenue of $46.18 million during the quarter, compared to analysts’ expectations of $46.45 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. On average, equities analysts expect that City Holding Company will post $3.87 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.89%. City Holding’s payout ratio is currently 45.95%.
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Several brokerages recently issued reports on CHCO. Zacks Investment Research raised City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, July 26th. BidaskClub raised City Holding from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, ValuEngine raised City Holding from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $70.33.
In related news, CAO Jeffrey Dale Legge sold 899 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total value of $60,727.45. Following the completion of the sale, the chief accounting officer now owns 7,151 shares of the company’s stock, valued at $483,050.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John A. Derito sold 2,688 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.85, for a total value of $168,940.80. Following the completion of the sale, the executive vice president now directly owns 22,844 shares of the company’s stock, valued at approximately $1,435,745.40. The disclosure for this sale can be found here. Insiders have sold 26,586 shares of company stock valued at $1,726,691 in the last three months. Insiders own 3.88% of the company’s stock.
City Holding Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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