City Holding (NASDAQ:CHCO) Shares Sold by Zhang Financial LLC

Zhang Financial LLC cut its holdings in shares of City Holding (NASDAQ:CHCO) by 26.1% in the third quarter, HoldingsChannel.com reports. The firm owned 2,789 shares of the bank’s stock after selling 984 shares during the quarter. Zhang Financial LLC’s holdings in City were worth $327,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after acquiring an additional 113 shares during the period. Bessemer Group Inc. lifted its position in shares of City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after buying an additional 604 shares during the last quarter. SG Americas Securities LLC acquired a new position in City in the first quarter valued at $180,000. Intech Investment Management LLC purchased a new position in City during the 2nd quarter worth approximately $208,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of City by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 7,244 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now directly owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles R. Hageboeck sold 7,244 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $123.62, for a total transaction of $895,503.28. Following the transaction, the chief executive officer now directly owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J. Thomas Jones sold 569 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $122.47, for a total transaction of $69,685.43. Following the sale, the director now directly owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,413 shares of company stock valued at $1,149,561. Company insiders own 2.45% of the company’s stock.

City Trading Up 0.4 %

Shares of CHCO stock opened at $119.70 on Wednesday. City Holding has a twelve month low of $86.56 and a twelve month high of $125.54. The company has a market capitalization of $1.77 billion, a P/E ratio of 15.06 and a beta of 0.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $116.15 and its two-hundred day moving average is $109.76.

City (NASDAQ:CHCO) last released its earnings results on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08. City had a return on equity of 17.42% and a net margin of 32.12%. The company had revenue of $94.90 million during the quarter, compared to the consensus estimate of $73.20 million. Equities analysts forecast that City Holding will post 7.73 EPS for the current year.

City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.79 dividend. This is an increase from City’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 annualized dividend and a yield of 2.64%. City’s payout ratio is presently 39.75%.

City Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.