Carolina Wealth Advisors LLC Sells 770 Shares of City Holding (NASDAQ:CHCO)

Carolina Wealth Advisors LLC lowered its stake in shares of City Holding (NASDAQ:CHCO) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,821 shares of the bank’s stock after selling 770 shares during the period. City makes up 2.9% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position. Carolina Wealth Advisors LLC owned approximately 0.31% of City worth $5,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in shares of City by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock worth $226,000 after acquiring an additional 91 shares during the period. Victory Capital Management Inc. raised its holdings in shares of City by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock worth $1,018,000 after buying an additional 137 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of City by 6.8% during the 3rd quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock worth $410,000 after buying an additional 222 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of City by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock worth $792,000 after buying an additional 285 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in City by 14.8% in the 3rd quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock worth $263,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler restated a “neutral” rating and set a $135.00 price objective on shares of City in a research report on Friday, November 8th. Keefe, Bruyette & Woods raised their price objective on City from $120.00 to $130.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

City Stock Performance

Shares of City stock opened at $119.47 on Thursday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 15.34 and a beta of 0.51. The business’s fifty day simple moving average is $125.74 and its 200 day simple moving average is $119.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. City Holding has a 12 month low of $97.50 and a 12 month high of $137.28.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, topping the consensus estimate of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The business had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. As a group, analysts anticipate that City Holding will post 7.84 EPS for the current year.

City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, January 15th. City’s dividend payout ratio (DPR) is presently 40.56%.

Insider Activity

In other City news, EVP John A. Derito sold 1,243 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the transaction, the executive vice president now owns 28,757 shares of the company’s stock, valued at $3,937,696.01. This represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 6,065 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the transaction, the chief executive officer now directly owns 44,974 shares of the company’s stock, valued at $5,847,969.22. The trade was a 11.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,092 shares of company stock valued at $1,196,697. Insiders own 2.45% of the company’s stock.

About City

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.