Public Employees Retirement System of Ohio Has $3.46 Million Stock Holdings in City Holding (NASDAQ:CHCO)

Public Employees Retirement System of Ohio lowered its stake in shares of City Holding (NASDAQ:CHCO) by 8.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 29,468 shares of the bank’s stock after selling 2,872 shares during the period. Public Employees Retirement System of Ohio’s holdings in City were worth $3,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CHCO. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 10,740 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of City by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock worth $62,044,000 after purchasing an additional 15,910 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of City by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after buying an additional 4,989 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of City by 7.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 32,497 shares of the bank’s stock valued at $3,453,000 after buying an additional 2,160 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock worth $2,937,000 after buying an additional 9,999 shares during the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Stock Down 0.2 %

CHCO opened at $128.86 on Monday. The firm has a market cap of $1.89 billion, a P/E ratio of 16.54 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50 day moving average price of $124.85 and a 200 day moving average price of $116.87. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. Research analysts forecast that City Holding will post 7.84 EPS for the current year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s dividend payout ratio (DPR) is 40.56%.

Insider Activity

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the transaction, the chief executive officer now directly owns 44,974 shares in the company, valued at $5,847,969.22. The trade was a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Dallas Kayser sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares in the company, valued at approximately $3,151,521.21. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,092 shares of company stock valued at $1,196,697. 2.45% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on CHCO shares. Keefe, Bruyette & Woods lifted their target price on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price objective on shares of City in a research note on Friday, November 8th.

City Company 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.