BNP Paribas Arbitrage SA Has $631,000 Stake in City Holding Company (CHCO)

BNP Paribas Arbitrage SA raised its stake in City Holding Company (NASDAQ:CHCO) by 83.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,774 shares of the bank’s stock after buying an additional 4,004 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of City worth $631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Neuberger Berman Group LLC grew its position in shares of City by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock valued at $241,000 after buying an additional 28 shares during the last quarter. Arizona State Retirement System grew its position in shares of City by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 8,170 shares of the bank’s stock valued at $538,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of City by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 6,400 shares of the bank’s stock valued at $422,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund grew its position in shares of City by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 11,390 shares of the bank’s stock valued at $750,000 after buying an additional 114 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of City by 1.6% in the 2nd quarter. Bessemer Group Inc. now owns 22,559 shares of the bank’s stock valued at $1,486,000 after buying an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 64.97% of the company’s stock.

In related news, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the transaction, the chief financial officer now directly owns 10,965 shares of the company’s stock, valued at approximately $800,445. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.88% of the stock is currently owned by corporate insiders.

Shares of City Holding Company (CHCO) traded down $1.04 during trading on Friday, hitting $67.47. The company had a trading volume of 64,445 shares, compared to its average volume of 65,732. City Holding Company has a 52 week low of $58.80 and a 52 week high of $74.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $1,069.99, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.78 and a beta of 0.83.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. City had a return on equity of 12.34% and a net margin of 29.25%. The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $47.18 million. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. analysts predict that City Holding Company will post 3.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Monday, January 15th will be paid a dividend of $0.46 per share. This is an increase from City’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, January 11th. City’s dividend payout ratio is 45.83%.

A number of research firms have commented on CHCO. BidaskClub lowered City from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research lowered City from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $70.33.

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City 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.

Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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