Jump Financial LLC Makes New Investment in City Holding (NASDAQ:CHCO)

Jump Financial LLC purchased a new stake in shares of City Holding (NASDAQ:CHCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,413 shares of the bank’s stock, valued at approximately $404,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock valued at $3,385,000 after acquiring an additional 16,044 shares during the period. Franklin Resources Inc. boosted its position in City by 4.5% during the third quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 404 shares in the last quarter. Apollon Wealth Management LLC bought a new position in City in the fourth quarter worth about $227,000. Charles Schwab Investment Management Inc. raised its holdings in City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock worth $65,253,000 after purchasing an additional 22,226 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of City by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank’s stock valued at $9,243,000 after buying an additional 2,726 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insider Transactions at City

In related news, CFO David L. Bumgarner sold 556 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 9,395 shares in the company, valued at $1,127,400. The trade was a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the sale, the director now directly owns 1,014 shares in the company, valued at $122,187. This represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226 shares of company stock worth $147,200 over the last three months. 1.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

City Trading Down 1.6 %

City stock opened at $116.78 on Friday. City Holding has a one year low of $99.63 and a one year high of $137.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $1.72 billion, a PE ratio of 14.80 and a beta of 0.48. The stock has a 50-day moving average of $115.79 and a two-hundred day moving average of $120.11.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.22. The company had revenue of $74.55 million for the quarter, compared to the consensus estimate of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. On average, research analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 annualized dividend and a yield of 2.71%. City’s payout ratio is presently 40.05%.

City Profile

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.