Healthcare of Ontario Pension Plan Trust Fund Sells 16,830 Shares of City Holding Company $CHCO

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in City Holding Company (NASDAQ:CHCO) by 93.0% during the first quarter, Holdings Channel.com reports. The firm owned 1,262 shares of the bank’s stock after selling 16,830 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in City were worth $151,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Horizon Corp increased its stake in shares of City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of City in the 4th quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of City in the 3rd quarter worth approximately $32,000. Simplex Trading LLC purchased a new stake in shares of City in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. increased its position in City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after buying an additional 198 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In other City news, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the sale, the executive vice president owned 7,656 shares of the company’s stock, valued at approximately $957,000. This trade represents a 14.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles R. Hageboeck sold 4,485 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total value of $650,145.60. Following the completion of the transaction, the chief executive officer owned 43,998 shares of the company’s stock, valued at $6,377,950.08. This represents a 9.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have acquired 544 shares of company stock valued at $71,900 and have sold 10,020 shares valued at $1,339,923. 1.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Hovde Group lifted their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised City from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $136.50.

City Price Performance

Shares of City stock opened at $145.11 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $2.05 billion, a PE ratio of 15.88 and a beta of 0.49. City Holding Company has a 52-week low of $113.21 and a 52-week high of $146.66. The company has a 50-day simple moving average of $132.08 and a two-hundred day simple moving average of $126.10.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.38%. The firm had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. On average, analysts anticipate that City Holding Company will post 9.29 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.48 annualized dividend and a yield of 2.4%. City’s dividend payout ratio is 38.07%.

City 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.