Teacher Retirement System of Texas raised its position in shares of City Holding Co. (NASDAQ:CHCO) by 123.0% during the second quarter, Holdings Channel reports. The fund owned 13,392 shares of the company’s stock after buying an additional 7,386 shares during the period. Teacher Retirement System of Texas owned 0.09% of City Holding worth $609,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new stake in shares of City Holding during the second quarter worth about $135,000. Legal & General Group Plc boosted its stake in shares of City Holding by 7.0% in the first quarter. Legal & General Group Plc now owns 3,775 shares of the company’s stock worth $180,000 after buying an additional 247 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of City Holding by 100.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,663 shares of the company’s stock worth $212,000 after buying an additional 2,341 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of City Holding by 13.0% in the second quarter. Capstone Asset Management Co. now owns 4,773 shares of the company’s stock worth $217,000 after buying an additional 550 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of City Holding during the second quarter worth about $265,000. 60.15% of the stock is owned by institutional investors.
City Holding Co. (NASDAQ:CHCO) traded up 1.70% on Friday, reaching $50.29. The company had a trading volume of 45,096 shares. The stock’s 50-day moving average price is $49.73 and its 200-day moving average price is $47.99. City Holding Co. has a 12-month low of $40.74 and a 12-month high of $51.33. The stock has a market capitalization of $754.60 million, a P/E ratio of 15.82 and a beta of 1.06.
City Holding (NASDAQ:CHCO) last announced its earnings results on Tuesday, July 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. City Holding had a return on equity of 11.45% and a net margin of 26.25%. During the same quarter last year, the firm posted $0.78 earnings per share. On average, equities research analysts anticipate that City Holding Co. will post $3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Wednesday, October 12th. City Holding’s dividend payout ratio is presently 54.09%.
Separately, Zacks Investment Research raised City Holding from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, June 28th.
City Holding Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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