XTX Topco Ltd Makes New Investment in City Holding (NASDAQ:CHCO)

XTX Topco Ltd acquired a new stake in City Holding (NASDAQ:CHCO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,567 shares of the bank’s stock, valued at approximately $423,000.

A number of other hedge funds have also modified their holdings of CHCO. Sterling Capital Management LLC lifted its holdings in City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock valued at $56,000 after purchasing an additional 405 shares during the period. KBC Group NV boosted its stake in City by 60.3% in the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after acquiring an additional 317 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after purchasing an additional 131 shares during the last quarter. Finally, Longboard Asset Management LP bought a new position in City during the fourth quarter worth about $211,000. 72.43% of the stock is owned by institutional investors and hedge funds.

City Stock Down 1.3 %

Shares of CHCO stock opened at $112.29 on Tuesday. The firm’s fifty day moving average price is $115.98 and its two-hundred day moving average price is $120.12. City Holding has a 1 year low of $99.63 and a 1 year high of $137.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.65 billion, a P/E ratio of 14.23 and a beta of 0.48.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, equities analysts predict that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.81%. City’s dividend payout ratio is presently 40.05%.

Insider Activity

In other City news, CFO David L. Bumgarner sold 556 shares of City stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the transaction, the chief financial officer now directly owns 9,395 shares of the company’s stock, valued at $1,127,400. The trade was a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the transaction, the director now directly owns 1,014 shares in the company, valued at $122,187. The trade was a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,226 shares of company stock valued at $147,200. 1.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th.

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.