Rafferty Asset Management LLC Buys 8,795 Shares of City Holding Company $CHCO

Rafferty Asset Management LLC grew its stake in City Holding Company (NASDAQ:CHCO) by 86.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,003 shares of the bank’s stock after acquiring an additional 8,795 shares during the period. Rafferty Asset Management LLC’s holdings in City were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Public Sector Pension Investment Board raised its holdings in City by 14.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after acquiring an additional 7,081 shares during the period. JPMorgan Chase & Co. grew its position in shares of City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after purchasing an additional 22,536 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of City during the second quarter worth approximately $903,000. SG Americas Securities LLC lifted its holdings in City by 255.3% during the 3rd quarter. SG Americas Securities LLC now owns 8,936 shares of the bank’s stock worth $1,107,000 after purchasing an additional 6,421 shares during the last quarter. Finally, MQS Management LLC bought a new stake in City in the 3rd quarter valued at $521,000. Institutional investors own 72.43% of the company’s stock.

Insider Activity

In other City news, CEO Charles R. Hageboeck sold 1,275 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $125.33, for a total transaction of $159,795.75. Following the completion of the sale, the chief executive officer directly owned 49,084 shares in the company, valued at $6,151,697.72. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.87% of the company’s stock.

City Stock Up 0.1%

Shares of NASDAQ CHCO opened at $121.39 on Thursday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 13.58 and a beta of 0.51. The stock’s fifty day moving average is $123.35 and its 200 day moving average is $123.30. City Holding Company has a 52 week low of $102.22 and a 52 week high of $133.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The firm had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. Sell-side analysts forecast that City Holding Company will post 7.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CHCO. Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Piper Sandler lifted their price objective on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.50.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.