Alps Advisors Inc. cut its stake in shares of City Holding Co. (NASDAQ:CHCO) by 6.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,748 shares of the company’s stock after selling 640 shares during the period. Alps Advisors Inc.’s holdings in City Holding were worth $398,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHCO. BNP Paribas Arbitrage SA boosted its position in City Holding by 100.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,663 shares of the company’s stock valued at $212,000 after buying an additional 2,341 shares during the period. Capstone Asset Management Co. boosted its position 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 valued at $217,000 after buying an additional 550 shares during the last quarter. Virginia Retirement System acquired a new position in shares of City Holding during the first quarter valued at approximately $268,000. Creative Planning acquired a new position in shares of City Holding during the second quarter valued at approximately $637,000. Finally, BlackRock Group LTD boosted its position in shares of City Holding by 2.7% in the first quarter. BlackRock Group LTD now owns 26,617 shares of the company’s stock valued at $1,272,000 after buying an additional 704 shares during the last quarter. Institutional investors own 60.15% of the company’s stock.
City Holding Co. (NASDAQ:CHCO) traded up 0.94% during mid-day trading on Monday, reaching $50.54. 30,346 shares of the company’s stock traded hands. City Holding Co. has a 12 month low of $40.74 and a 12 month high of $51.33. The company has a 50 day moving average price of $49.91 and a 200-day moving average price of $48.13. The stock has a market cap of $758.35 million, a P/E ratio of 15.90 and a beta of 1.01.
City Holding (NASDAQ:CHCO) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. City Holding had a net margin of 26.25% and a return on equity of 11.45%. During the same quarter last year, the business posted $0.78 earnings per share. On average, analysts anticipate that City Holding Co. will post $3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.72 annualized dividend and a yield of 3.40%. City Holding’s payout ratio is 54.09%.
Separately, Zacks Investment Research upgraded shares of City Holding from a “sell” rating to a “hold” rating in a report on Thursday, August 11th.
About City Holding
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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