3,384 Shares in City Holding Company $CHCO Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. bought a new position in City Holding Company (NASDAQ:CHCO) during the second quarter, Holdings Channel reports. The firm bought 3,384 shares of the bank’s stock, valued at approximately $414,000.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after buying an additional 115 shares in the last quarter. CWM LLC lifted its position in shares of City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after buying an additional 86 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of City by 69.0% in the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock worth $67,000 after buying an additional 223 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of City in the first quarter worth about $104,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of City in the second quarter worth about $206,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHCO has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on City from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. DA Davidson raised their price objective on City from $128.00 to $137.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Hovde Group raised their price objective on City from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Zacks Research lowered City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a research note on Friday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $133.25.

City Trading Down 0.5%

Shares of NASDAQ CHCO opened at $121.85 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. The business’s 50 day moving average price is $124.58 and its 200-day moving average price is $121.76. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $137.28. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 14.01 and a beta of 0.53.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.26. City had a return on equity of 16.66% and a net margin of 32.33%.The firm had revenue of $81.26 million for the quarter, compared to the consensus estimate of $80.17 million. On average, sell-side analysts expect that City Holding Company will post 7.58 earnings per share for the current year.

City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. City’s dividend payout ratio (DPR) is currently 40.00%.

About City

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.