Smith Asset Management Group LP lowered its position in shares of City Holding (NASDAQ:CHCO) by 69.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,260 shares of the bank’s stock after selling 2,820 shares during the period. Smith Asset Management Group LP’s holdings in City were worth $96,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CHCO. Mason Street Advisors LLC increased its position in City by 3.3% in the 1st quarter. Mason Street Advisors LLC now owns 5,334 shares of the bank’s stock valued at $406,000 after acquiring an additional 168 shares during the period. Piedmont Investment Advisors Inc. increased its position in City by 5.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,156 shares of the bank’s stock worth $317,000 after purchasing an additional 210 shares during the period. Aperio Group LLC increased its position in City by 2.0% during the 2nd quarter. Aperio Group LLC now owns 16,525 shares of the bank’s stock worth $1,260,000 after purchasing an additional 319 shares during the period. Comerica Bank increased its position in City by 2.1% during the 1st quarter. Comerica Bank now owns 16,424 shares of the bank’s stock worth $1,292,000 after purchasing an additional 332 shares during the period. Finally, Advisors Preferred LLC acquired a new position in City during the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 66.79% of the company’s stock.
In other news, EVP Craig G. Stilwell sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $74.92, for a total transaction of $202,284.00. Following the sale, the executive vice president now owns 15,696 shares of the company’s stock, valued at approximately $1,175,944.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David L. Bumgarner sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $76.65, for a total value of $76,650.00. Following the sale, the chief financial officer now directly owns 8,936 shares in the company, valued at approximately $684,944.40. The disclosure for this sale can be found here. 3.36% of the stock is owned by insiders.
City (NASDAQ:CHCO) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.08. The business had revenue of $58.74 million for the quarter, compared to analyst estimates of $57.24 million. City had a return on equity of 14.52% and a net margin of 30.14%. On average, research analysts predict that City Holding will post 5.35 earnings per share for the current fiscal year.
Several equities analysts have issued reports on CHCO shares. Boenning Scattergood reiterated a “neutral” rating on shares of City in a research report on Thursday, June 20th. BidaskClub upgraded City from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Hovde Group started coverage on City in a research report on Monday, June 3rd. They set a “market perform” rating and a $76.00 target price on the stock. Finally, Zacks Investment Research cut City from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.
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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