Quest Partners LLC Has $1.01 Million Holdings in City Holding (NASDAQ:CHCO)

Quest Partners LLC raised its position in City Holding (NASDAQ:CHCO) by 14.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,601 shares of the bank’s stock after acquiring an additional 1,063 shares during the period. Quest Partners LLC owned approximately 0.06% of City worth $1,010,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CHCO. Nicholson Wealth Management Group LLC acquired a new stake in City in the third quarter valued at approximately $1,449,000. Dimensional Fund Advisors LP grew its stake in City by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after acquiring an additional 10,740 shares during the period. Squarepoint Ops LLC grew its stake in City by 137.5% in the second quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock valued at $1,158,000 after acquiring an additional 6,312 shares during the period. American Century Companies Inc. lifted its holdings in shares of City by 6.0% in the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after purchasing an additional 4,989 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of City in the third quarter valued at approximately $579,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler restated a “neutral” rating and issued a $135.00 target price on shares of City in a report on Friday, November 8th.

City Stock Down 0.2 %

CHCO stock opened at $128.41 on Thursday. City Holding has a twelve month low of $95.39 and a twelve month high of $136.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $120.17 and its 200-day moving average is $113.57. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.48 and a beta of 0.46.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. Sell-side analysts expect that City Holding will post 7.84 EPS for the current fiscal year.

City Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $0.79 per share. This is a positive change from City’s previous quarterly dividend of $0.72. This represents a $3.16 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Tuesday, October 15th. City’s dividend payout ratio (DPR) is 40.56%.

Insider Buying and Selling

In related news, CEO Charles R. Hageboeck sold 6,065 shares of City stock in a transaction on Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the sale, the chief executive officer now directly owns 44,974 shares in the company, valued at approximately $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the sale, the director now owns 23,637 shares in the company, valued at $3,151,521.21. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.39% of the stock is currently owned by corporate insiders.

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.