UBS Asset Management Americas Inc. continued to hold its position in City Holding Company (NASDAQ:CHCO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,061 shares of the bank’s stock at the end of the first quarter. UBS Asset Management Americas Inc.’s holdings in City Holding were worth $326,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in City Holding during the fourth quarter worth about $12,519,000. Wells Fargo & Company MN boosted its position in City Holding by 6.7% in the first quarter. Wells Fargo & Company MN now owns 33,415 shares of the bank’s stock worth $2,154,000 after buying an additional 2,089 shares during the last quarter. Macquarie Group Ltd. boosted its position in City Holding by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 492,363 shares of the bank’s stock worth $33,284,000 after buying an additional 34,316 shares during the last quarter. Bank of New York Mellon Corp boosted its position in City Holding by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 255,995 shares of the bank’s stock worth $16,506,000 after buying an additional 9,413 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in City Holding by 6.4% in the first quarter. Great West Life Assurance Co. Can now owns 21,117 shares of the bank’s stock worth $1,361,000 after buying an additional 1,261 shares during the last quarter. Hedge funds and other institutional investors own 62.42% of the company’s stock.
City Holding Company (CHCO) opened at 65.50 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.64 and a beta of 0.84. The stock’s 50 day moving average price is $66.02 and its 200-day moving average price is $65.80. City Holding Company has a 12 month low of $46.48 and a 12 month high of $74.90.
City Holding (NASDAQ:CHCO) last posted its earnings results on Monday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The firm had revenue of $46.18 million for the quarter, compared to analysts’ expectations of $46.45 million. During the same period in the previous year, the firm earned $0.83 earnings per share. Equities analysts anticipate that City Holding Company will post $3.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.76 annualized dividend and a dividend yield of 2.69%. City Holding’s dividend payout ratio is presently 45.95%.
A number of equities analysts have issued reports on CHCO shares. Zacks Investment Research cut City Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine upgraded City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub cut City Holding from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Keefe, Bruyette & Woods set a $65.00 price target on City Holding and gave the stock a “hold” rating in a report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. City Holding has a consensus rating of “Hold” and an average target price of $70.33.
In related news, CAO Jeffrey Dale Legge sold 899 shares of City Holding stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total transaction of $60,727.45. Following the sale, the chief accounting officer now directly owns 7,151 shares in the company, valued at $483,050.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John A. Derito sold 806 shares of City Holding stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $64.25, for a total value of $51,785.50. Following the sale, the executive vice president now owns 25,649 shares in the company, valued at $1,647,948.25. The disclosure for this sale can be found here. Insiders have sold 26,586 shares of company stock worth $1,726,691 over the last 90 days. 3.88% of the stock is currently owned by corporate insiders.
City Holding 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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