JPMorgan Chase & Co. Acquires 22,536 Shares of City Holding Company $CHCO

JPMorgan Chase & Co. boosted its holdings in shares of City Holding Company (NASDAQ:CHCO) by 11.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 212,093 shares of the bank’s stock after buying an additional 22,536 shares during the period. JPMorgan Chase & Co.’s holdings in City were worth $26,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock worth $78,247,000 after acquiring an additional 6,371 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in City by 11.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 79,284 shares of the bank’s stock worth $9,706,000 after purchasing an additional 7,955 shares during the last quarter. Bank of America Corp DE boosted its position in City by 0.3% during the second quarter. Bank of America Corp DE now owns 77,767 shares of the bank’s stock worth $9,520,000 after purchasing an additional 198 shares during the period. Public Sector Pension Investment Board grew its holdings in City by 14.3% during the third quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after purchasing an additional 7,081 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of City by 16.0% in the second quarter. First Trust Advisors LP now owns 51,794 shares of the bank’s stock valued at $6,341,000 after purchasing an additional 7,125 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, City currently has an average rating of “Hold” and a consensus target price of $134.50.

Insider Activity at City

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

City Stock Down 2.6%

NASDAQ CHCO opened at $119.97 on Friday. City Holding Company has a twelve month low of $102.22 and a twelve month high of $133.59. The stock has a market cap of $1.72 billion, a PE ratio of 13.42 and a beta of 0.52. The firm has a 50-day simple moving average of $123.51 and a 200 day simple moving average of $123.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.83.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The firm had revenue of $60.83 million during the quarter, compared to analyst estimates of $81.38 million. On average, research analysts forecast that City Holding Company will post 7.58 EPS for the current year.

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.