Metropolitan Life Insurance Co. NY continued to hold its stake in City Holding Company (NASDAQ:CHCO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,438 shares of the bank’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY owned about 0.06% of City Holding worth $609,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CHCO. SG Americas Securities LLC acquired a new stake in City Holding during the first quarter valued at about $108,000. State of Alaska Department of Revenue increased its stake in City Holding by 6.2% in the first quarter. State of Alaska Department of Revenue now owns 1,720 shares of the bank’s stock valued at $110,000 after buying an additional 100 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in City Holding during the first quarter valued at about $167,000. Miles Capital Inc. increased 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 buying an additional 10 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in City Holding by 11.1% in the first quarter. Mason Street Advisors LLC now owns 3,642 shares of the bank’s stock valued at $235,000 after buying an additional 363 shares in the last quarter. Institutional investors own 61.59% of the company’s stock.
Shares of City Holding Company (CHCO) traded up 0.80% during midday trading on Friday, hitting $60.42. The stock had a trading volume of 82,045 shares. The firm has a market cap of $943.58 million, a PE ratio of 15.81 and a beta of 0.84. The firm has a 50-day moving average of $64.90 and a 200 day moving average of $65.53. City Holding Company has a 12-month low of $48.40 and a 12-month high of $74.90.
City Holding (NASDAQ:CHCO) last issued its earnings results on Monday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The business had revenue of $46.18 million during the quarter, compared to analysts’ expectations of $46.45 million. During the same period in the prior year, the firm posted $0.83 EPS. On average, analysts expect that City Holding Company will post $3.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were issued a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.91%. City Holding’s payout ratio is presently 45.95%.
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Several research firms have issued reports on CHCO. Zacks Investment Research downgraded City Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub downgraded City Holding from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, ValuEngine upgraded City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. City Holding currently has an average rating of “Hold” and an average price target of $70.33.
In other news, EVP John A. Derito sold 2,688 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.85, for a total value of $168,940.80. Following the completion of the transaction, the executive vice president now directly owns 22,844 shares of the company’s stock, valued at approximately $1,435,745.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John A. Derito sold 806 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $64.25, for a total value of $51,785.50. Following the completion of the transaction, the executive vice president now directly owns 25,649 shares of the company’s stock, valued at $1,647,948.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,655 shares of company stock valued at $1,212,366. 3.88% of the stock is currently owned by insiders.
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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