AlphaQuest LLC Decreases Holdings in City Holding (NASDAQ:CHCO)

AlphaQuest LLC trimmed its stake in shares of City Holding (NASDAQ:CHCO) by 16.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,222 shares of the bank’s stock after selling 1,379 shares during the period. AlphaQuest LLC’s holdings in City were worth $856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in City by 710.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock valued at $56,000 after purchasing an additional 405 shares in the last quarter. KBC Group NV lifted its holdings in City by 60.3% during 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. Point72 DIFC Ltd purchased a new position in shares of City in the third quarter worth about $134,000. PNC Financial Services Group Inc. lifted its stake in shares of City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after buying an additional 131 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of City in the third quarter worth about $199,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other City news, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the sale, the director now directly owns 1,014 shares in the company, valued at $122,187. This trade represents a 33.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David L. Bumgarner sold 556 shares of City 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 sale, the chief financial officer now owns 9,395 shares of the company’s stock, valued at approximately $1,127,400. This represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226 shares of company stock valued at $147,200 over the last ninety days. Company insiders own 2.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

City Price Performance

Shares of CHCO stock opened at $114.61 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50-day moving average is $118.12 and its two-hundred day moving average is $120.62. City Holding has a 12 month low of $97.50 and a 12 month high of $137.28. The company has a market capitalization of $1.68 billion, a PE ratio of 14.53 and a beta of 0.48.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping 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%. Analysts predict that City Holding will post 7.58 earnings per share for the current year.

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.