Jupiter Topco LLC Takes Position in City Holding Company $CHCO

Jupiter Topco LLC acquired a new stake in shares of City Holding Company (NASDAQ:CHCO) during the second quarter, HoldingsChannel reports. The fund acquired 6,700 shares of the bank’s stock, valued at approximately $888,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CHCO. Allworth Financial LP bought a new position in City during the second quarter valued at approximately $27,000. Kestra Advisory Services LLC bought a new stake in shares of City in the 4th quarter worth approximately $29,000. Quarry LP bought a new stake in shares of City in the 3rd quarter worth approximately $32,000. Simplex Trading LLC purchased a new stake in shares of City in the 4th quarter valued at $36,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 24th. Hovde Group upped their price target on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, City currently has a consensus rating of “Hold” and a consensus price target of $136.50.

Insider Buying and Selling at City

In other City news, CEO Charles Hageboeck sold 4,485 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total transaction of $650,145.60. Following the completion of the sale, the chief executive officer owned 43,998 shares of the company’s stock, valued at $6,377,950.08. This represents a 9.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sharon H. Rowe sold 400 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total transaction of $57,584.00. Following the completion of the transaction, the director owned 10,576 shares in the company, valued at $1,522,520.96. The trade was a 3.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired a total of 444 shares of company stock valued at $59,740 in the last three months. 1.75% of the stock is currently owned by corporate insiders.

City Stock Performance

Shares of CHCO stock opened at $145.57 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $148.99. The stock has a 50 day moving average price of $140.91 and a two-hundred day moving average price of $129.70. The company has a market capitalization of $2.05 billion, a P/E ratio of 15.93 and a beta of 0.48.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The firm had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. Analysts expect that City Holding Company will post 9.29 earnings per share for the current year.

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.