Kentucky Trust Co Takes Position in City Holding (NASDAQ:CHCO)

Kentucky Trust Co acquired a new stake in City Holding (NASDAQ:CHCO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,927 shares of the bank’s stock, valued at approximately $465,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHCO. Victory Capital Management Inc. lifted its position in shares of City by 1.6% in the third quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock valued at $1,018,000 after buying an additional 137 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of City by 4.1% in the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after purchasing an additional 176 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of City by 6.8% during the 3rd quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock valued at $410,000 after acquiring an additional 222 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in City by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock worth $792,000 after buying an additional 285 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of City by 14.8% in the 3rd quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock valued at $263,000 after purchasing an additional 290 shares during the period. Institutional investors own 72.43% of the company’s stock.

Analysts Set New Price Targets

CHCO has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler reduced their target price on City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th.

City Trading Up 1.6 %

NASDAQ:CHCO opened at $120.39 on Wednesday. The company has a market cap of $1.77 billion, a P/E ratio of 15.26 and a beta of 0.51. The stock’s fifty day moving average price is $121.09 and its two-hundred day moving average price is $120.22. City Holding has a 1 year low of $97.50 and a 1 year high of $137.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, analysts expect that City Holding will post 7.58 EPS for the current year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a $0.79 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.62%. City’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling

In related news, EVP John A. Derito sold 1,243 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the transaction, the executive vice president now owns 28,757 shares of the company’s stock, valued at $3,937,696.01. This represents a 4.14 % 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, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the transaction, the director now directly owns 1,014 shares in the company, valued at approximately $122,187. This represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,364 shares of company stock worth $1,085,806. Corporate insiders own 2.45% of the company’s stock.

City 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.