City Holding (NASDAQ:CHCO) Sees Significant Decrease in Short Interest

City Holding (NASDAQ:CHCOGet Free Report) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 917,000 shares, a decrease of 7.5% from the September 30th total of 991,000 shares. Based on an average trading volume of 48,700 shares, the short-interest ratio is currently 18.8 days. Approximately 6.4% of the company’s shares are short sold.

Insider Transactions at City

In related news, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the transaction, the director now owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. This represents a 0.00 % 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 other news, Director James L. Rossi sold 1,000 shares of City stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the transaction, the director now directly owns 18,233 shares of the company’s stock, valued at $2,096,795. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the transaction, the executive vice president now owns 2,000 shares in the company, valued at $231,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

Institutional Trading of City

A number of hedge funds and other institutional investors have recently made changes to their positions in CHCO. Westwood Holdings Group Inc. increased its position in shares of City by 5.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 614,511 shares of the bank’s stock worth $64,044,000 after purchasing an additional 32,069 shares during the last quarter. Nicholson Wealth Management Group LLC acquired a new position in City in the third quarter worth about $1,449,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in City in the first quarter valued at about $1,133,000. Dimensional Fund Advisors LP raised its stake in City by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after buying an additional 10,740 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in City by 137.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after buying an additional 6,312 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

City Stock Down 1.2 %

NASDAQ CHCO traded down $1.44 on Thursday, reaching $116.60. The company had a trading volume of 39,319 shares, compared to its average volume of 56,586. The firm has a market capitalization of $1.72 billion, a PE ratio of 14.67 and a beta of 0.47. The firm has a 50-day moving average of $117.17 and a 200-day moving average of $111.00. City has a 1 year low of $89.95 and a 1 year high of $125.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80.

City (NASDAQ:CHCOGet Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. City had a net margin of 32.12% and a return on equity of 17.42%. The firm had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million. On average, equities research analysts anticipate that City will post 7.73 EPS for the current fiscal year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.79 per share. This is a boost from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, October 15th. City’s dividend payout ratio is 39.75%.

City Company Profile

(Get Free Report)

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.

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