Jackson Creek Investment Advisors LLC Takes Position in City Holding (NASDAQ:CHCO)

Jackson Creek Investment Advisors LLC acquired a new stake in City Holding (NASDAQ:CHCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,492 shares of the bank’s stock, valued at approximately $1,047,000. Jackson Creek Investment Advisors LLC owned 0.06% of City as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cerity Partners LLC grew its position in shares of City by 3.3% in the fourth quarter. Cerity Partners LLC now owns 7,239 shares of the bank’s stock valued at $799,000 after purchasing an additional 230 shares during the period. Federated Hermes Inc. grew its position in City by 28.0% during the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after acquiring an additional 249 shares during the period. Teacher Retirement System of Texas grew its position in City by 2.8% during the third quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after acquiring an additional 301 shares during the period. Alps Advisors Inc. grew its position in City by 9.1% during the third quarter. Alps Advisors Inc. now owns 3,753 shares of the bank’s stock valued at $339,000 after acquiring an additional 313 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in City during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Stock Down 1.8 %

Shares of CHCO traded down $1.84 during midday trading on Tuesday, reaching $101.02. 52,689 shares of the company were exchanged, compared to its average volume of 61,636. The stock has a 50-day moving average price of $101.82 and a 200-day moving average price of $101.39. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 12.71 and a beta of 0.51. City Holding has a 1-year low of $82.53 and a 1-year high of $115.89. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio (DPR) is 35.97%.

Analyst Ratings Changes

CHCO has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $110.00 price target (up previously from $100.00) on shares of City in a research report on Thursday, April 25th. Stephens reduced their price objective on City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Piper Sandler boosted their price objective on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st.

Insider Buying and Selling

In related news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the transaction, the executive vice president now owns 3,400 shares in the company, valued at $356,116. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the sale, the executive vice president now directly owns 3,400 shares of the company’s stock, valued at $356,116. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John A. Derito sold 1,309 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the completion of the sale, the executive vice president now directly owns 28,620 shares of the company’s stock, valued at $2,897,775. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,981 shares of company stock worth $1,217,039. 2.39% of the stock is currently owned by corporate insiders.

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.