GWM Advisors LLC boosted its position in City Holding (NASDAQ:CHCO) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,788 shares of the bank’s stock after purchasing an additional 2,350 shares during the period. GWM Advisors LLC’s holdings in City were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Morgan Stanley increased its stake in City by 69.1% in the 3rd quarter. Morgan Stanley now owns 77,909 shares of the bank’s stock worth $5,983,000 after buying an additional 31,843 shares in the last quarter. Arizona State Retirement System increased its stake in City by 14.3% in the 4th quarter. Arizona State Retirement System now owns 25,619 shares of the bank’s stock worth $1,732,000 after buying an additional 3,198 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in City by 11.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 6,851 shares of the bank’s stock worth $463,000 after buying an additional 700 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in City by 10.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 3,073 shares of the bank’s stock worth $208,000 after buying an additional 290 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in City by 25.1% in the 4th quarter. Rhumbline Advisers now owns 48,138 shares of the bank’s stock worth $3,254,000 after buying an additional 9,647 shares in the last quarter. 67.82% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CHCO. Zacks Investment Research upgraded City from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. BidaskClub lowered City from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Hovde Group began coverage on City in a research note on Monday, June 3rd. They issued a “market perform” rating and a $76.00 price target for the company. Finally, Boenning Scattergood reiterated a “hold” rating on shares of City in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. City presently has a consensus rating of “Hold” and a consensus target price of $78.67.
City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. The business had revenue of $55.99 million during the quarter, compared to analyst estimates of $55.33 million. City had a return on equity of 15.10% and a net margin of 31.16%. Analysts expect that City Holding will post 5.29 EPS for the current year.
In other news, CEO Charles R. Hageboeck sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $80.27, for a total transaction of $642,160.00. Following the completion of the transaction, the chief executive officer now owns 62,157 shares in the company, valued at $4,989,342.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jeffrey Dale Legge sold 1,534 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $79.00, for a total value of $121,186.00. Following the transaction, the chief accounting officer now owns 6,693 shares of the company’s stock, valued at approximately $528,747. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,173 shares of company stock valued at $1,131,079. Company insiders own 3.36% of the company’s stock.
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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