Bessemer Group Inc. decreased its stake in City Holding Company (NASDAQ:CHCO) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,259 shares of the bank’s stock after selling 2,300 shares during the period. Bessemer Group Inc. owned about 0.13% of City Holding worth $1,457,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Prudential Financial Inc. lifted its stake in City Holding by 21.2% in the 3rd quarter. Prudential Financial Inc. now owns 32,193 shares of the bank’s stock valued at $2,315,000 after purchasing an additional 5,640 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of City Holding during the third quarter valued at $248,000. Piedmont Investment Advisors LLC bought a new position in shares of City Holding during the second quarter valued at $222,000. Susquehanna International Group LLP bought a new position in shares of City Holding during the second quarter valued at $241,000. Finally, Scotia Capital Inc. raised its stake in shares of City Holding by 14.1% during the second quarter. Scotia Capital Inc. now owns 16,047 shares of the bank’s stock valued at $1,057,000 after acquiring an additional 1,985 shares during the last quarter. 62.42% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on CHCO shares. BidaskClub raised shares of City Holding from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Zacks Investment Research downgraded shares of City Holding from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. City Holding has a consensus rating of “Hold” and an average price target of $70.33.
In other news, CEO Charles R. Hageboeck sold 2,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $62.78, for a total transaction of $125,560.00. Following the completion of the transaction, the chief executive officer now owns 72,984 shares of the company’s stock, valued at $4,581,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.88% of the stock is currently owned by company insiders.
City Holding Company (CHCO) opened at $66.98 on Wednesday. The stock has a market cap of $1,035.94, a price-to-earnings ratio of 17.27, a PEG ratio of 1.73 and a beta of 0.85. City Holding Company has a 52 week low of $58.61 and a 52 week high of $74.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90.
City Holding (NASDAQ:CHCO) last released its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $47.18 million. City Holding had a net margin of 29.25% and a return on equity of 12.34%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. sell-side analysts forecast that City Holding Company will post 3.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Thursday, October 12th. City Holding’s payout ratio is currently 45.83%.
City Holding Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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