City Holding Company $CHCO Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of City Holding Company (NASDAQ:CHCO) by 11.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,093 shares of the bank’s stock after purchasing 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 have also made changes to their positions in CHCO. Tudor Investment Corp ET AL boosted its stake in shares of City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in City by 3.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 12,267 shares of the bank’s stock worth $1,521,000 after buying an additional 415 shares during the period. Caxton Associates LLP acquired a new position in City in the 3rd quarter worth $227,000. Dark Forest Capital Management LP lifted its holdings in City by 12.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 21,657 shares of the bank’s stock worth $2,683,000 after buying an additional 2,450 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in City by 110.2% in the 3rd quarter. Verition Fund Management LLC now owns 4,255 shares of the bank’s stock valued at $527,000 after buying an additional 2,231 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Charles R. Hageboeck sold 1,275 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $125.33, for a total transaction of $159,795.75. Following the transaction, the chief executive officer owned 49,084 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. In the last quarter, insiders have bought 553 shares of company stock valued at $64,082. Corporate insiders own 1.87% of the company’s stock.

Wall Street Analyst Weigh In

CHCO has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b+)” rating on shares of City in a research note on Tuesday, December 23rd. Piper Sandler increased their price target on City from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, City currently has a consensus rating of “Hold” and an average price target of $134.50.

City Stock Up 1.7%

Shares of NASDAQ:CHCO opened at $118.95 on Tuesday. The firm has a market cap of $1.71 billion, a PE ratio of 13.31 and a beta of 0.51. The company has a fifty day simple moving average of $122.36 and a 200 day simple moving average of $122.39. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. City Holding Company has a 12-month low of $102.22 and a 12-month high of $133.59.

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

About City

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.