Westwood Holdings Group Inc. Sells 15,433 Shares of City Holding Company $CHCO

Westwood Holdings Group Inc. trimmed its stake in City Holding Company (NASDAQ:CHCO) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 616,151 shares of the bank’s stock after selling 15,433 shares during the period. Westwood Holdings Group Inc.’s holdings in City were worth $75,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its position in shares of City by 43.9% in the 1st quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after purchasing an additional 86 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in City by 3.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,200 shares of the bank’s stock valued at $392,000 after buying an additional 100 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of City by 5.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,718 shares of the bank’s stock valued at $455,000 after buying an additional 200 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of City by 7.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,339 shares of the bank’s stock valued at $409,000 after purchasing an additional 221 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of City by 69.0% during the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock worth $67,000 after buying an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Stock Performance

CHCO stock opened at $120.59 on Friday. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market cap of $1.74 billion, a P/E ratio of 13.86 and a beta of 0.54. The firm has a 50 day simple moving average of $122.25 and a 200 day simple moving average of $122.34.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.26. The business had revenue of $61.29 million during the quarter, compared to analyst estimates of $80.17 million. City had a return on equity of 16.66% and a net margin of 32.33%. Research analysts anticipate that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were paid a $0.87 dividend. The ex-dividend date was Wednesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. City’s dividend payout ratio is 40.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of City in a research note on Wednesday, October 8th. Zacks Research cut City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded City from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. DA Davidson lifted their price target on City from $128.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Hovde Group raised their target price on shares of City from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $133.25.

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.