Barr E S & Co. Sells 8,180 Shares of City Holding (NASDAQ:CHCO)

Barr E S & Co. decreased its stake in City Holding (NASDAQ:CHCO) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,700 shares of the bank’s stock after selling 8,180 shares during the period. City accounts for approximately 0.9% of Barr E S & Co.’s holdings, making the stock its 26th largest position. Barr E S & Co. owned approximately 0.89% of City worth $15,485,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in City by 781.3% during the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after acquiring an additional 375 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock valued at $56,000 after purchasing an additional 405 shares during the period. KBC Group NV lifted its stake in City by 60.3% in the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after purchasing an additional 317 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in City by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after purchasing an additional 131 shares during the period. Finally, Longboard Asset Management LP acquired a new position in shares of City during the 4th quarter worth approximately $211,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Price Performance

City stock opened at $109.57 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of 13.89 and a beta of 0.48. City Holding has a one year low of $97.50 and a one year high of $137.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty day moving average price is $116.76 and its two-hundred day moving average price is $120.19.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, research analysts expect that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Tuesday, April 15th. City’s dividend payout ratio (DPR) is presently 40.05%.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th.

Insiders Place Their Bets

In other City news, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the sale, the director now directly owns 1,014 shares of the company’s stock, valued at $122,187. The trade was a 33.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the transaction, the chief financial officer now directly owns 9,395 shares of the company’s stock, valued at $1,127,400. The trade was a 5.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,226 shares of company stock valued at $147,200. 2.45% of the stock is currently owned by insiders.

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.