Los Angeles Capital Management LLC Trims Holdings in City Holding (NASDAQ:CHCO)

Los Angeles Capital Management LLC reduced its holdings in shares of City Holding (NASDAQ:CHCO) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,291 shares of the bank’s stock after selling 100 shares during the period. Los Angeles Capital Management LLC’s holdings in City were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CHCO. Westwood Holdings Group Inc. lifted its holdings in shares of City by 5.5% during the first quarter. Westwood Holdings Group Inc. now owns 614,511 shares of the bank’s stock valued at $64,044,000 after purchasing an additional 32,069 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in City by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after buying an additional 10,740 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in City by 0.4% in the first quarter. Axxcess Wealth Management LLC now owns 108,737 shares of the bank’s stock worth $11,333,000 after acquiring an additional 469 shares in the last quarter. Leeward Investments LLC MA grew its stake in shares of City by 5.6% in the second quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock worth $9,452,000 after acquiring an additional 4,725 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of City by 6.0% during the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after acquiring an additional 4,989 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

City Stock Down 0.4 %

CHCO stock opened at $130.24 on Friday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 16.72 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a 1-year low of $95.39 and a 1-year high of $136.51. The business has a fifty day moving average price of $119.35 and a 200-day moving average price of $113.06.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during 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%. Equities analysts forecast that City Holding will post 7.84 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $0.79 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $3.16 annualized dividend and a yield of 2.43%. This is a boost from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio (DPR) is currently 40.56%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, 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 completion of the sale, the director now owns 23,637 shares of the company’s stock, valued at $3,151,521.21. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the completion of the transaction, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $231,240. This represents a 23.08 % decrease in their position. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by insiders.

About City

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.