First Citizens Bank & Trust Co. reduced its stake in shares of City Holding Co. (NASDAQ:CHCO) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,088 shares of the company’s stock after selling 726 shares during the period. First Citizens Bank & Trust Co.’s holdings in City Holding were worth $368,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased 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 in the last quarter. Capstone Asset Management Co. increased its position in shares of City Holding by 13.0% in the second quarter. Capstone Asset Management Co. now owns 4,773 shares of the company’s stock worth $217,000 after buying an additional 550 shares in the last quarter. Creative Planning bought a new position in shares of City Holding during the second quarter worth approximately $637,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of City Holding by 100.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,663 shares of the company’s stock worth $212,000 after buying an additional 2,341 shares in the last quarter. 60.11% of the stock is owned by institutional investors.
Shares of City Holding Co. (NASDAQ:CHCO) traded up 0.27% during trading on Tuesday, hitting $48.62. The stock had a trading volume of 35,737 shares. City Holding Co. has a one year low of $40.74 and a one year high of $51.33. The company has a market cap of $729.54 million, a P/E ratio of 15.29 and a beta of 1.01. The stock’s 50-day moving average price is $49.82 and its 200-day moving average price is $48.24.
City Holding (NASDAQ:CHCO) last released its earnings results on Tuesday, July 26th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ 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 prior year, the firm earned $0.78 EPS. On average, equities research analysts forecast that City Holding Co. will post $3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.72 annualized dividend and a yield of 3.54%. City Holding’s dividend payout ratio (DPR) is presently 54.09%.
Separately, Zacks Investment Research raised City Holding from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, June 28th.
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.
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