California Public Employees Retirement System reduced its stake in shares of City Holding Co. (NASDAQ:CHCO) by 7.1% during the second quarter, Holdings Channel reports. The institutional investor owned 73,304 shares of the company’s stock after selling 5,600 shares during the period. California Public Employees Retirement System owned 0.49% of City Holding worth $3,333,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Emerald Acquisition Ltd. acquired a new position in City Holding during the second quarter valued at $135,000. Swiss National Bank increased its position in City Holding by 2.5% in the second quarter. Swiss National Bank now owns 24,900 shares of the company’s stock valued at $1,132,000 after buying an additional 600 shares during the period. Bank of Montreal Can acquired a new position in City Holding during the second quarter valued at $1,233,000. City Holding Co. increased its position in City Holding by 22.8% in the second quarter. City Holding Co. now owns 495,116 shares of the company’s stock valued at $22,513,000 after buying an additional 91,801 shares during the period. Finally, Capstone Asset Management Co. increased its position in City Holding by 13.0% in the second quarter. Capstone Asset Management Co. now owns 4,773 shares of the company’s stock valued at $217,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 60.15% of the company’s stock.
City Holding Co. (NASDAQ:CHCO) traded down 0.61% during trading on Friday, hitting $50.29. The stock had a trading volume of 43,068 shares. City Holding Co. has a 1-year low of $40.74 and a 1-year high of $51.33. The firm has a market cap of $754.60 million, a price-to-earnings ratio of 15.82 and a beta of 1.06. The firm’s 50 day moving average is $49.55 and its 200 day moving average is $47.85.
City Holding (NASDAQ:CHCO) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. City Holding had a return on equity of 11.45% and a net margin of 26.25%. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, analysts anticipate that City Holding Co. will post $3.25 earnings per share for the current year.
Separately, Zacks Investment Research upgraded City Holding from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th.
City Holding Company 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). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
Want to see what other hedge funds are holding CHCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for City Holding Co. (NASDAQ:CHCO).
Receive News & Ratings for City Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Holding Co. and related companies with MarketBeat.com's FREE daily email newsletter.