The Manufacturers Life Insurance Company Takes $909,000 Position in City Holding Company $CHCO

The Manufacturers Life Insurance Company bought a new position in City Holding Company (NASDAQ:CHCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,850 shares of the bank’s stock, valued at approximately $909,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP increased its holdings in City by 35.2% in the 1st quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after acquiring an additional 16,060 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of City by 55.0% during the 1st quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock valued at $7,373,000 after purchasing an additional 21,898 shares during the last quarter. BlackRock Inc. purchased a new position in shares of City during the second quarter valued at about $270,231,000. Virtu Financial LLC purchased a new position in shares of City during the fourth quarter valued at about $1,353,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of City by 40.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 48,766 shares of the bank’s stock worth $5,829,000 after purchasing an additional 13,976 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

CHCO has been the topic of a number of research analyst reports. Weiss Ratings upgraded City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 24th. Hovde Group lifted their price objective on City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, City has a consensus rating of “Hold” and a consensus target price of $136.50.

Insider Activity at City

In other City news, CEO Charles Hageboeck sold 4,485 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the sale, the chief executive officer directly owned 43,998 shares of the company’s stock, valued at $6,377,950.08. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sharon H. Rowe sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total value of $57,584.00. Following the sale, the director owned 10,576 shares in the company, valued at approximately $1,522,520.96. This trade represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 444 shares of company stock worth $59,740 over the last three months. 1.75% of the stock is currently owned by insiders.

City Stock Performance

Shares of NASDAQ:CHCO opened at $145.57 on Friday. The firm has a fifty day simple moving average of $140.91 and a two-hundred day simple moving average of $129.70. City Holding Company has a 52 week low of $113.21 and a 52 week high of $148.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $2.05 billion, a P/E ratio of 15.93 and a beta of 0.48.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The firm had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. On average, analysts expect that City Holding Company will post 9.29 earnings per share for the current fiscal year.

City Company 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.