Westwood Holdings Group Inc. Has $60.21 Million Stock Position in City Holding (NASDAQ:CHCO)

Westwood Holdings Group Inc. lessened its stake in City Holding (NASDAQ:CHCO) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 508,190 shares of the bank’s stock after selling 41,719 shares during the quarter. Westwood Holdings Group Inc. owned about 3.46% of City worth $60,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in City by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank’s stock valued at $1,481,000 after buying an additional 893 shares during the period. Barclays PLC increased its stake in City by 125.3% in the third 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 last quarter. Franklin Resources Inc. increased its stake in City by 4.5% in the third quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after acquiring an additional 404 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in City during the fourth quarter valued at approximately $227,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in City by 4.2% during 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 during the last quarter. Institutional investors own 72.43% of the company’s stock.

City Price Performance

Shares of NASDAQ:CHCO opened at $122.80 on Monday. The firm has a 50 day simple moving average of $116.33 and a 200 day simple moving average of $120.27. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 15.56 and a beta of 0.52. 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 current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.22. The business had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. City had a return on equity of 16.49% and a net margin of 30.83%. Research analysts predict that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.57%. The ex-dividend date was Tuesday, April 15th. City’s dividend payout ratio (DPR) is currently 39.60%.

Insider Activity

In other news, CFO David L. Bumgarner sold 1,058 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total value of $124,844.00. Following the completion of the sale, the chief financial officer now owns 10,636 shares of the company’s stock, valued at approximately $1,255,048. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James M. Parsons acquired 2,200 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $122.38 per share, for a total transaction of $269,236.00. Following the completion of the purchase, the director now owns 2,700 shares of the company’s stock, valued at $330,426. This trade represents a 440.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 3,069 shares of company stock valued at $359,820. Insiders own 1.87% of the company’s stock.

Analysts Set New Price Targets

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

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.