Zhang Financial LLC Trims Stake in City Holding (NASDAQ:CHCO)

Zhang Financial LLC cut its stake in City Holding (NASDAQ:CHCO) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,789 shares of the bank’s stock after selling 984 shares during the period. Zhang Financial LLC’s holdings in City were worth $327,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CHCO. Commonwealth Equity Services LLC lifted its stake in shares of City by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after purchasing an additional 91 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of City by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after buying an additional 100 shares in the last quarter. GAMMA Investing LLC grew its position in shares of City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after buying an additional 113 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of City by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank’s stock worth $1,350,000 after acquiring an additional 140 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in City by 5.9% during the 1st quarter. ProShare Advisors LLC now owns 2,955 shares of the bank’s stock valued at $308,000 after acquiring an additional 165 shares during the period. 72.43% of the stock is owned by institutional investors.

Insider Buying and Selling at City

In other City news, Director J. Thomas Jones sold 569 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $122.47, for a total value of $69,685.43. Following the transaction, the director now directly owns 4,411 shares in the company, valued at approximately $540,215.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other City news, Director J. Thomas Jones sold 569 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $122.47, for a total value of $69,685.43. Following the completion of the transaction, the director now directly owns 4,411 shares in the company, valued at $540,215.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the completion of the sale, the executive vice president now owns 2,000 shares in the company, valued at $231,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,413 shares of company stock worth $1,149,561. Insiders own 2.45% of the company’s stock.

City Price Performance

Shares of CHCO opened at $119.70 on Wednesday. City Holding has a fifty-two week low of $86.56 and a fifty-two week high of $125.54. The firm’s 50-day simple moving average is $116.15 and its two-hundred day simple moving average is $109.76. The stock has a market cap of $1.77 billion, a PE ratio of 15.06 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08. City had a return on equity of 17.42% and a net margin of 32.12%. The company had revenue of $94.90 million during the quarter, compared to analyst estimates of $73.20 million. Analysts anticipate that City Holding will post 7.73 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.64%. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, October 15th. City’s payout ratio is presently 39.75%.

City Company Profile

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.