Polaris Capital Management LLC Has $1.65 Million Position in City Holding (NASDAQ:CHCO)

Polaris Capital Management LLC grew its holdings in City Holding (NASDAQ:CHCO) by 71.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,895 shares of the bank’s stock after buying an additional 5,800 shares during the quarter. Polaris Capital Management LLC’s holdings in City were worth $1,646,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC bought a new stake in City during the 4th quarter worth about $227,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of City by 18.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,641 shares of the bank’s stock worth $1,289,000 after acquiring an additional 1,639 shares during the period. Longboard Asset Management LP acquired a new position in City in the 4th quarter worth $211,000. DAVENPORT & Co LLC raised its stake in shares of City by 4.1% in the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after purchasing an additional 176 shares during the period. Finally, KBC Group NV lifted its holdings in shares of City by 60.3% in the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after purchasing an additional 317 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

CHCO has been the topic of several research reports. Keefe, Bruyette & Woods boosted their target price on 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 reduced their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, January 24th.

City Price Performance

Shares of NASDAQ CHCO opened at $118.47 on Tuesday. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28. The company has a market cap of $1.74 billion, a PE ratio of 15.02 and a beta of 0.51. The business’s 50 day moving average price is $121.29 and its two-hundred day moving average price is $120.25. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, analysts predict that City Holding will post 7.58 EPS for the current year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $3.16 annualized dividend and a yield of 2.67%. City’s dividend payout ratio is currently 40.05%.

Insider Transactions at City

In other news, EVP John A. Derito sold 1,243 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the sale, the executive vice president now directly owns 28,757 shares in the company, valued at approximately $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the transaction, the director now directly owns 1,014 shares in the company, valued at approximately $122,187. This represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,364 shares of company stock worth $1,085,806 over the last quarter. Company insiders own 2.45% of the company’s stock.

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.