WBI Investments Inc. acquired a new stake in City Holding Company (NASDAQ:CHCO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,624 shares of the bank’s stock, valued at approximately $1,491,000. WBI Investments Inc. owned about 0.14% of City Holding at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Miles Capital Inc. lifted its stake in City Holding by 0.3% in the first quarter. Miles Capital Inc. now owns 3,262 shares of the bank’s stock valued at $210,000 after purchasing an additional 10 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of City Holding by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock worth $241,000 after acquiring an additional 28 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of City Holding by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 6,400 shares of the bank’s stock worth $422,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System lifted its position in shares of City Holding by 1.2% during the second quarter. Arizona State Retirement System now owns 8,170 shares of the bank’s stock worth $538,000 after acquiring an additional 100 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of City Holding by 1.0% during the second quarter. Texas Permanent School Fund now owns 11,390 shares of the bank’s stock worth $750,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 62.53% of the company’s stock.
In other news, CAO Jeffrey Dale Legge sold 899 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total value of $60,727.45. Following the sale, the chief accounting officer now owns 7,151 shares in the company, valued at $483,050.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles R. Hageboeck sold 2,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $62.78, for a total transaction of $125,560.00. Following the completion of the sale, the chief executive officer now owns 72,984 shares in the company, valued at approximately $4,581,935.52. The disclosure for this sale can be found here. Company insiders own 3.88% of the company’s stock.
City Holding Company (NASDAQ:CHCO) opened at 64.12 on Friday. The stock’s 50 day moving average is $63.19 and its 200 day moving average is $65.15. City Holding Company has a 12-month low of $48.40 and a 12-month high of $74.90. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 16.78 and a beta of 0.85.
City Holding (NASDAQ:CHCO) last posted its earnings results on Monday, July 24th. The bank reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. City Holding had a net margin of 29.07% and a return on equity of 12.62%. The company had revenue of $46.18 million during the quarter, compared to analysts’ expectations of $46.45 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. Equities analysts predict that City Holding Company will post $3.87 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on CHCO shares. BidaskClub upgraded City Holding from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research raised City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, July 26th. Finally, ValuEngine raised City Holding from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $70.33.
About City Holding
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). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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