Virginia Retirement Systems ET AL acquired a new position in City Holding Co. (NASDAQ:CHCO) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,400 shares of the company’s stock, valued at approximately $246,000.
Several other hedge funds have also recently made changes to their positions in CHCO. Emerald Acquisition Ltd. bought a new position in City Holding during the second quarter valued at approximately $135,000. BNP Paribas Arbitrage SA increased 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. increased its position in 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 period. Virginia Retirement System bought a new position in City Holding during the first quarter valued at approximately $268,000. Finally, Neuberger Berman Group LLC bought a new position in City Holding during the second quarter valued at approximately $265,000. Institutional investors own 60.15% of the company’s stock.
City Holding Co. (NASDAQ:CHCO) opened at 50.54 on Tuesday. The firm has a 50-day moving average price of $49.95 and a 200 day moving average price of $48.18. The company has a market cap of $758.35 million, a P/E ratio of 15.90 and a beta of 1.01. City Holding Co. has a 12 month low of $40.74 and a 12 month high of $51.33.
City Holding (NASDAQ:CHCO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $0.78 EPS. On average, equities analysts expect that City Holding Co. will post $3.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.40%. The ex-dividend date is Wednesday, October 12th. City Holding’s payout ratio is presently 54.09%.
Separately, Zacks Investment Research downgraded City Holding from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th.
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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