Rhumbline Advisers grew its holdings in shares of City Holding (NASDAQ:CHCO) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,607 shares of the bank’s stock after purchasing an additional 5,243 shares during the period. Rhumbline Advisers owned approximately 0.25% of City worth $2,605,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CHCO. Arizona State Retirement System grew its holdings in City by 225.3% during the fourth quarter. Arizona State Retirement System now owns 26,249 shares of the bank’s stock worth $1,771,000 after acquiring an additional 18,179 shares during the period. GWM Advisors LLC boosted its position in shares of City by 8.2% in the 4th quarter. GWM Advisors LLC now owns 17,819 shares of the bank’s stock valued at $1,194,000 after purchasing an additional 1,351 shares during the period. Wells Fargo & Company MN boosted its position in shares of City by 12.7% in the 4th quarter. Wells Fargo & Company MN now owns 44,501 shares of the bank’s stock valued at $3,003,000 after purchasing an additional 5,013 shares during the period. First Trust Advisors LP boosted its position in shares of City by 5.8% in the 4th quarter. First Trust Advisors LP now owns 36,943 shares of the bank’s stock valued at $2,493,000 after purchasing an additional 2,011 shares during the period. Finally, Lbmc Investment Advisors LLC acquired a new position in shares of City in the 4th quarter valued at $202,000. 66.87% of the stock is currently owned by institutional investors.
In other City news, CEO Charles R. Hageboeck sold 5,114 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $68.29, for a total transaction of $349,235.06. Following the completion of the sale, the chief executive officer now directly owns 70,863 shares in the company, valued at approximately $4,839,234.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.88% of the company’s stock.
A number of equities analysts recently weighed in on the company. BidaskClub upgraded City from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Sandler O’Neill set a $72.00 price target on City and gave the company a “hold” rating in a research report on Thursday, January 4th. Boenning Scattergood reiterated a “hold” rating on shares of City in a research report on Wednesday, January 24th. Finally, Zacks Investment Research lowered City from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. City presently has an average rating of “Hold” and an average price target of $71.67.
Shares of City stock opened at $72.29 on Monday. City Holding has a 1 year low of $58.80 and a 1 year high of $74.90. The company has a market capitalization of $1,121.14, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91.
City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.11. City had a return on equity of 12.40% and a net margin of 26.25%. The firm had revenue of $47.96 million during the quarter, compared to analyst estimates of $47.43 million. equities analysts predict that City Holding will post 4.57 earnings per share for the current fiscal year.
City 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). 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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