Schwab Charles Investment Management Inc. boosted its position in City Holding Company (NASDAQ:CHCO) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,614 shares of the bank’s stock after purchasing an additional 3,569 shares during the period. Schwab Charles Investment Management Inc.’s holdings in City were worth $5,150,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of City by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock valued at $201,000 after acquiring an additional 458 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of City during the 2nd quarter valued at approximately $222,000. Neuberger Berman Group LLC lifted its position in shares of City by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock valued at $241,000 after acquiring an additional 28 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of City during the 2nd quarter valued at approximately $241,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of City during the 3rd quarter valued at approximately $248,000. Hedge funds and other institutional investors own 64.97% of the company’s stock.
CHCO has been the subject of a number of research reports. BidaskClub upgraded shares of City from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research downgraded shares of City from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, Sandler O’Neill set a $72.00 price target on shares of City and gave the company a “hold” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. City currently has an average rating of “Hold” and an average target price of $70.75.
City Holding Company (NASDAQ CHCO) opened at $67.25 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90. City Holding Company has a 12 month low of $58.80 and a 12 month high of $74.90. The firm has a market cap of $1,050.47, a P/E ratio of 17.51, a PEG ratio of 1.65 and a beta of 0.84.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. City had a net margin of 29.25% and a return on equity of 12.34%. The business had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $47.18 million. During the same period last year, the company posted $0.88 EPS. The company’s revenue was up 1.1% on a year-over-year basis. research analysts predict that City Holding Company will post 3.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from City’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, January 11th. City’s dividend payout ratio (DPR) is 45.83%.
In other news, CFO David L. Bumgarner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the transaction, the chief financial officer now directly owns 10,965 shares of the company’s stock, valued at approximately $800,445. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.88% of the company’s stock.
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City 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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