Wesbanco Bank Inc. Sells 100 Shares of City Holding (NASDAQ:CHCO)

Wesbanco Bank Inc. lessened its holdings in shares of City Holding (NASDAQ:CHCO) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,320 shares of the bank’s stock after selling 100 shares during the period. Wesbanco Bank Inc.’s holdings in City were worth $273,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CHCO. Sterling Capital Management LLC raised its position in City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after purchasing an additional 405 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of City by 10.6% in the 4th 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. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of City by 10.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock valued at $170,000 after purchasing an additional 140 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of City in the 4th quarter valued at $227,000. Institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In related news, Director James M. Parsons acquired 2,200 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $122.38 per share, with a total value of $269,236.00. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $116.22, for a total value of $162,708.00. Following the completion of the sale, the executive vice president now directly owns 2,830 shares of the company’s stock, valued at $328,902.60. The trade was a 33.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,899 shares of company stock worth $339,590 in the last quarter. Company insiders own 1.87% of the company’s stock.

City Price Performance

Shares of NASDAQ CHCO opened at $119.53 on Wednesday. The company has a market capitalization of $1.73 billion, a PE ratio of 15.15 and a beta of 0.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a twelve month low of $99.79 and a twelve month high of $137.28. The firm has a fifty day simple moving average of $116.74 and a 200 day simple moving average of $119.21.

City (NASDAQ:CHCO) last posted its quarterly earnings data 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 firm had revenue of $74.55 million during 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%. On average, sell-side analysts forecast that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Tuesday, July 15th. City’s payout ratio is 39.60%.

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.