First Mercantile Trust Co. decreased its position in shares of City Holding Co. (NASDAQ:CHCO) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 2,811 shares of the company’s stock after selling 90 shares during the period. First Mercantile Trust Co.’s holdings in City Holding were worth $128,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new position in City Holding during the second quarter worth about $135,000. Legal & General Group Plc increased its position in City Holding by 7.0% in the first quarter. Legal & General Group Plc now owns 3,775 shares of the company’s stock worth $180,000 after buying an additional 247 shares during the period. BNP Paribas Arbitrage SA increased its position in 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 during the period. 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 worth $217,000 after buying an additional 550 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new position in City Holding during the second quarter worth about $246,000. Institutional investors and hedge funds own 60.15% of the company’s stock.
City Holding Co. (NASDAQ:CHCO) opened at 50.23 on Friday. The firm has a market cap of $753.70 million, a P/E ratio of 15.80 and a beta of 1.01. The firm’s 50-day moving average price is $49.89 and its 200-day moving average price is $48.10. City Holding Co. has a 1-year low of $40.74 and a 1-year high of $51.33.
City Holding (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. City Holding had a net margin of 26.25% and a return on equity of 11.45%. During the same period in the previous year, the firm earned $0.78 EPS. Equities research analysts anticipate that City Holding Co. will post $3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Wednesday, October 12th. City Holding’s dividend payout ratio (DPR) is presently 54.09%.
Separately, Zacks Investment Research upgraded City Holding from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note 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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