Kentucky Trust Co Sells 276 Shares of City Holding Company $CHCO

Kentucky Trust Co lessened its stake in City Holding Company (NASDAQ:CHCO) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,651 shares of the bank’s stock after selling 276 shares during the quarter. Kentucky Trust Co’s holdings in City were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CHCO. Westwood Holdings Group Inc. grew its stake in City by 24.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank’s stock valued at $74,192,000 after buying an additional 123,394 shares in the last quarter. Nuveen LLC purchased a new position in City in the 1st quarter valued at approximately $4,883,000. GAMMA Investing LLC grew its stake in City by 13,747.8% in the 1st quarter. GAMMA Investing LLC now owns 37,943 shares of the bank’s stock valued at $4,457,000 after buying an additional 37,669 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in City by 5.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank’s stock valued at $68,139,000 after buying an additional 29,302 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in City in the 1st quarter valued at approximately $1,493,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHCO has been the subject of a number of recent research reports. DA Davidson lifted their price objective on shares of City from $128.00 to $137.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods boosted their price target on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Finally, Hovde Group boosted their price target on shares of City from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $133.25.

City Stock Performance

City stock opened at $123.84 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.79 billion, a PE ratio of 14.90 and a beta of 0.57. The firm has a fifty day simple moving average of $125.46 and a two-hundred day simple moving average of $120.78. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.32. The business had revenue of $78.16 million during the quarter, compared to the consensus estimate of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. Research analysts expect that City Holding Company will post 7.58 EPS for the current year.

Insider Buying and Selling at City

In other City news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the sale, the executive vice president directly owned 1,830 shares of the company’s stock, valued at $239,949.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $131.06, for a total transaction of $327,650.00. Following the completion of the sale, the executive vice president directly owned 7,037 shares of the company’s stock, valued at $922,269.22. This represents a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 305 shares of company stock valued at $38,750 over the last three months. 1.87% of the stock is currently owned by insiders.

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.