UBS Group AG Has $7.81 Million Position in City Holding Company $CHCO

UBS Group AG lessened its holdings in shares of City Holding Company (NASDAQ:CHCO) by 27.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,478 shares of the bank’s stock after selling 24,561 shares during the quarter. UBS Group AG’s holdings in City were worth $7,805,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CHCO. JPMorgan Chase & Co. increased its position in shares of City by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after acquiring an additional 22,536 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of City by 14.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock worth $6,999,000 after acquiring an additional 7,081 shares during the last quarter. Tudor Investment Corp ET AL lifted its position in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after acquiring an additional 29,828 shares in the last quarter. MQS Management LLC bought a new position in City in the 3rd quarter valued at about $521,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of City by 86.2% in the third quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock valued at $2,354,000 after purchasing an additional 8,795 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CHCO shares. Piper Sandler upped their target price on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Hovde Group boosted their price target on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.25.

City Stock Performance

Shares of City stock opened at $123.08 on Tuesday. The business’s fifty day simple moving average is $122.08 and its 200 day simple moving average is $122.43. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. City Holding Company has a 12 month low of $113.21 and a 12 month high of $133.59. The firm has a market capitalization of $1.74 billion, a P/E ratio of 13.56 and a beta of 0.50.

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

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, April 15th. City’s dividend payout ratio (DPR) is 38.33%.

City announced that its board has initiated a share buyback program on Wednesday, March 25th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other City news, CEO Charles R. Hageboeck sold 5,855 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total value of $733,631.50. Following the transaction, the chief executive officer directly owned 50,341 shares in the company, valued at $6,307,727.30. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David L. Bumgarner sold 402 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $125.00, for a total transaction of $50,250.00. Following the transaction, the chief financial officer directly owned 12,632 shares of the company’s stock, valued at $1,579,000. This represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 1,008 shares of company stock valued at $121,099 and have sold 9,117 shares valued at $1,143,121. 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.