Nisa Investment Advisors LLC Boosts Position in City Holding (NASDAQ:CHCO)

Nisa Investment Advisors LLC raised its holdings in shares of City Holding (NASDAQ:CHCO) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,794 shares of the bank’s stock after buying an additional 400 shares during the period. Nisa Investment Advisors LLC’s holdings in City were worth $328,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after acquiring an additional 113 shares in the last quarter. nVerses Capital LLC purchased a new position in City in the third quarter valued at about $59,000. Bessemer Group Inc. lifted its stake in shares of City by 90.7% during the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after purchasing an additional 604 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of City during the first quarter worth about $180,000. Finally, Intech Investment Management LLC purchased a new stake in shares of City in the second quarter worth about $208,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at City

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the sale, the executive vice president now owns 2,000 shares in the company, valued at $231,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the sale, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at $231,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James L. Rossi sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the transaction, the director now directly owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.39% of the company’s stock.

City Stock Performance

Shares of NASDAQ:CHCO opened at $118.29 on Wednesday. The business’s 50-day simple moving average is $117.11 and its 200 day simple moving average is $111.45. The company has a market cap of $1.74 billion, a P/E ratio of 15.18 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 0.82. City Holding has a one year low of $92.76 and a one year high of $125.54.

City (NASDAQ:CHCO) last posted its 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 analysts’ expectations of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, sell-side analysts forecast that City Holding will post 7.78 earnings per share for the current fiscal year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a dividend yield of 2.67%. City’s dividend payout ratio (DPR) is currently 40.56%.

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.