Louisiana State Employees Retirement System Takes $765,000 Position in City Holding Company $CHCO

Louisiana State Employees Retirement System bought a new stake in shares of City Holding Company (NASDAQ:CHCO) during the 1st quarter, Holdings Channel reports. The firm bought 6,400 shares of the bank’s stock, valued at approximately $765,000.

Other hedge funds also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in shares of City in the fourth quarter worth $29,000. First Horizon Corp raised its holdings in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Quarry LP bought a new position in shares of City in the third quarter worth about $32,000. Simplex Trading LLC purchased a new stake in shares of City during the fourth quarter worth about $36,000. Finally, Geneos Wealth Management Inc. raised its stake in City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares during the period. 72.43% of the stock is currently owned by institutional investors.

City Trading Down 1.0%

Shares of CHCO stock traded down $1.30 on Tuesday, reaching $133.63. 14,734 shares of the company’s stock were exchanged, compared to its average volume of 112,306. The stock has a market capitalization of $1.89 billion, a PE ratio of 14.72 and a beta of 0.49. City Holding Company has a 52 week low of $113.21 and a 52 week high of $136.17. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $126.54 and its 200 day simple moving average is $124.11.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The firm had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. As a group, analysts forecast that City Holding Company will post 8.99 EPS for the current year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s payout ratio is currently 38.33%.

City declared that its Board of Directors has approved a share repurchase program on Wednesday, March 25th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on CHCO. Hovde Group lifted their price target on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, City currently has an average rating of “Hold” and a consensus target price of $134.25.

Insider Activity at City

In other City news, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total transaction of $163,625.00. Following the completion of the sale, the executive vice president directly owned 7,656 shares of the company’s stock, valued at $957,000. The trade was a 14.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David L. Bumgarner sold 1,161 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the completion of the sale, the chief financial officer owned 10,666 shares of the company’s stock, valued at $1,327,917. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 455 shares of company stock worth $57,018 and sold 12,975 shares worth $1,622,853. Corporate insiders own 1.75% of the company’s stock.

City Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.