Scotia Capital Inc. increased its holdings in shares of City Holding (NASDAQ:CHCO) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 18,904 shares of the bank’s stock after purchasing an additional 1,427 shares during the quarter. Scotia Capital Inc.’s holdings in City were worth $1,276,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CHCO. Lbmc Investment Advisors LLC bought a new stake in City during the 4th quarter worth approximately $202,000. McKinley Carter Wealth Services Inc. bought a new stake in City during the 4th quarter worth approximately $225,000. Crossmark Global Holdings Inc. bought a new stake in City during the 3rd quarter worth approximately $248,000. Asset Management One Co. Ltd. bought a new stake in City during the 3rd quarter worth approximately $315,000. Finally, Teacher Retirement System of Texas bought a new stake in City during the 4th quarter worth approximately $361,000. 65.58% of the stock is owned by institutional investors and hedge funds.
CHCO has been the subject of a number of research reports. Zacks Investment Research cut City from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. BidaskClub raised City from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of City in a research report on Wednesday, January 24th. Finally, Sandler O’Neill set a $72.00 price target on City and gave the stock a “hold” rating in a research report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. City presently has an average rating of “Hold” and an average price target of $71.67.
City (NASDAQ:CHCO) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. City had a return on equity of 12.40% and a net margin of 26.25%. The firm had revenue of $47.96 million during the quarter, compared to the consensus estimate of $47.43 million. sell-side analysts expect that City Holding will post 4.48 earnings per share for the current year.
In other City news, CEO Charles R. Hageboeck sold 5,114 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $68.29, for a total transaction of $349,235.06. Following the completion of the transaction, the chief executive officer now owns 70,863 shares of the company’s stock, valued at approximately $4,839,234.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.88% of the company’s stock.
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City Company Profile
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). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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