City Holding (NASDAQ:CHCO) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its stake in City Holding (NASDAQ:CHCO) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,719 shares of the bank’s stock after purchasing an additional 310 shares during the quarter. MetLife Investment Management LLC’s holdings in City were worth $1,033,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CHCO. First Trust Advisors LP raised its holdings in City by 7.9% in the fourth quarter. First Trust Advisors LP now owns 53,225 shares of the bank’s stock valued at $6,306,000 after buying an additional 3,902 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of City by 3.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,229 shares of the bank’s stock valued at $1,682,000 after acquiring an additional 454 shares during the period. Jump Financial LLC acquired a new position in shares of City during the 4th quarter valued at $404,000. Guggenheim Capital LLC lifted its stake in shares of City by 1.3% during the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank’s stock worth $1,047,000 after purchasing an additional 114 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of City in the fourth quarter valued at about $423,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Performance

City stock opened at $117.46 on Friday. City Holding has a 52 week low of $99.63 and a 52 week high of $137.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.73 billion, a P/E ratio of 14.89 and a beta of 0.48. The stock has a 50 day moving average of $115.67 and a 200-day moving average of $120.08.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.22. The firm 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, analysts expect that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a dividend of $0.79 per share. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 annualized dividend and a yield of 2.69%. City’s dividend payout ratio (DPR) is 39.60%.

Analyst Ratings Changes

Separately, Piper Sandler dropped 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, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $116.22, for a total value of $162,708.00. Following the sale, the executive vice president now directly owns 2,830 shares in the company, valued at approximately $328,902.60. This trade represents a 33.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David L. Bumgarner sold 1,058 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total transaction of $124,844.00. Following the transaction, the chief financial officer now directly owns 10,636 shares of the company’s stock, valued at approximately $1,255,048. This trade represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,128 shares of company stock valued at $368,032 over the last quarter. Insiders own 1.87% of the company’s stock.

City Company 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.