Axxcess Wealth Management LLC Grows Stock Holdings in City Holding (NASDAQ:CHCO)

Axxcess Wealth Management LLC grew its holdings in City Holding (NASDAQ:CHCO) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,418 shares of the bank’s stock after acquiring an additional 885 shares during the period. Axxcess Wealth Management LLC’s holdings in City were worth $12,964,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Crossmark Global Holdings Inc. purchased a new stake in City during the third quarter worth $199,000. Victory Capital Management Inc. boosted its holdings in City by 1.6% during the third quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock worth $1,018,000 after buying an additional 137 shares in the last quarter. Quest Partners LLC boosted its holdings in City by 14.1% during the third quarter. Quest Partners LLC now owns 8,601 shares of the bank’s stock worth $1,010,000 after buying an additional 1,063 shares in the last quarter. Intech Investment Management LLC boosted its holdings in City by 14.8% during the third quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock worth $263,000 after buying an additional 290 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in City by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock worth $62,044,000 after buying an additional 15,910 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Stock Performance

NASDAQ:CHCO opened at $117.61 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $117.90 and a two-hundred day moving average of $120.55. The stock has a market capitalization of $1.73 billion, a PE ratio of 14.91 and a beta of 0.48. City Holding has a fifty-two week low of $97.50 and a fifty-two week high of $137.28.

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

Insider Activity

In related news, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the sale, the director now owns 1,014 shares of the company’s stock, valued at approximately $122,187. This represents a 33.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David L. Bumgarner sold 556 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the sale, the chief financial officer now directly owns 9,395 shares of the company’s stock, valued at $1,127,400. This represents a 5.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,226 shares of company stock worth $147,200 over the last three months. Insiders own 2.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHCO shares. 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 report on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.