Xact Kapitalforvaltning AB lessened its holdings in City Holding (NASDAQ:CHCO) by 21.9% during the first quarter, Holdings Channel reports. The institutional investor owned 5,351 shares of the bank’s stock after selling 1,500 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in City were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in CHCO. Macquarie Group Ltd. lifted its position in shares of City by 16.8% during the fourth quarter. Macquarie Group Ltd. now owns 549,557 shares of the bank’s stock worth $37,145,000 after acquiring an additional 78,873 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of City by 13.8% in the fourth quarter. Legal & General Group Plc now owns 40,274 shares of the bank’s stock worth $2,726,000 after purchasing an additional 4,887 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in City by 10.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 3,934 shares of the bank’s stock valued at $266,000 after acquiring an additional 384 shares during the last quarter. Morgan Stanley increased its stake in City by 69.1% in the third quarter. Morgan Stanley now owns 77,909 shares of the bank’s stock valued at $5,983,000 after acquiring an additional 31,843 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in City by 8.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,666 shares of the bank’s stock valued at $788,000 after acquiring an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 67.82% of the company’s stock.
CHCO has been the subject of a number of analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of City in a report on Wednesday, April 17th. Zacks Investment Research upgraded shares of City from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. BidaskClub upgraded shares of City from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Finally, Hovde Group initiated coverage on shares of City in a report on Monday, June 3rd. They set a “market perform” rating and a $76.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $78.67.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.08. City had a net margin of 31.16% and a return on equity of 15.10%. The business had revenue of $55.99 million during the quarter, compared to analyst estimates of $55.33 million. Analysts expect that City Holding will post 5.29 EPS for the current fiscal year.
In related news, CAO Jeffrey Dale Legge sold 1,534 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $79.00, for a total transaction of $121,186.00. Following the completion of the sale, the chief accounting officer now owns 6,693 shares of the company’s stock, valued at $528,747. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig G. Stilwell sold 645 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $79.25, for a total transaction of $51,116.25. Following the sale, the executive vice president now directly owns 21,661 shares of the company’s stock, valued at approximately $1,716,634.25. The disclosure for this sale can be found here. Insiders sold 14,173 shares of company stock valued at $1,131,079 over the last 90 days. 3.36% of the stock is currently owned by company insiders.
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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