Northern Trust Corp Raises Position in City Holding (CHCO)

Northern Trust Corp increased its position in City Holding (NASDAQ:CHCO) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 478,736 shares of the bank’s stock after buying an additional 2,866 shares during the quarter. Northern Trust Corp’s holdings in City were worth $36,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lbmc Investment Advisors LLC raised its position in shares of City by 20.6% in the 2nd quarter. Lbmc Investment Advisors LLC now owns 3,619 shares of the bank’s stock worth $272,000 after buying an additional 619 shares during the period. UBS Group AG raised its position in shares of City by 79.1% in the 1st quarter. UBS Group AG now owns 1,734 shares of the bank’s stock worth $119,000 after buying an additional 766 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of City by 15.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,151 shares of the bank’s stock worth $463,000 after buying an additional 800 shares during the period. Victory Capital Management Inc. raised its position in shares of City by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 5,956 shares of the bank’s stock worth $448,000 after buying an additional 816 shares during the period. Finally, GWM Advisors LLC raised its position in shares of City by 4.4% in the 2nd quarter. GWM Advisors LLC now owns 21,252 shares of the bank’s stock worth $1,626,000 after buying an additional 904 shares during the period. 66.80% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CHCO opened at $72.25 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90. City Holding has a 12 month low of $64.32 and a 12 month high of $83.27. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.88 and a beta of 0.59.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, July 26th. The bank reported $1.35 EPS for the quarter, beating the consensus estimate of $1.13 by $0.22. City had a return on equity of 13.85% and a net margin of 29.49%. The company had revenue of $49.18 million for the quarter, compared to analyst estimates of $48.59 million. Equities research analysts anticipate that City Holding will post 4.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be given a $0.53 dividend. The ex-dividend date is Friday, October 12th. This is a positive change from City’s previous quarterly dividend of $0.46. This represents a $2.12 annualized dividend and a yield of 2.93%. City’s dividend payout ratio (DPR) is 53.81%.

In other City news, EVP Craig G. Stilwell sold 2,825 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $82.70, for a total value of $233,627.50. Following the transaction, the executive vice president now directly owns 23,942 shares of the company’s stock, valued at $1,980,003.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jeffrey Dale Legge sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $80.78, for a total value of $26,253.50. Following the completion of the transaction, the chief accounting officer now directly owns 5,927 shares in the company, valued at $478,783.06. The disclosure for this sale can be found here. Insiders sold 9,156 shares of company stock worth $748,892 over the last three months. 3.83% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on CHCO. BidaskClub raised City from a “sell” rating to a “hold” rating in a research report on Saturday, October 6th. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, September 19th. ValuEngine lowered City from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of City in a research report on Thursday, July 26th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.67.

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 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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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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