Carolina Wealth Advisors LLC Lowers Holdings in City Holding (NASDAQ:CHCO)

Carolina Wealth Advisors LLC lowered its holdings in shares of City Holding (NASDAQ:CHCO) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,591 shares of the bank’s stock after selling 2,128 shares during the period. City comprises approximately 2.8% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 15th biggest holding. Carolina Wealth Advisors LLC’s holdings in City were worth $5,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHCO. Commonwealth Equity Services LLC grew its stake in City by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after acquiring an additional 91 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of City by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of City by 95.8% in the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of City by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank’s stock worth $1,350,000 after buying an additional 140 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in City by 5.9% during the first quarter. ProShare Advisors LLC now owns 2,955 shares of the bank’s stock valued at $308,000 after buying an additional 165 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 7,244 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total value of $895,503.28. Following the transaction, the chief executive officer now owns 45,974 shares of the company’s stock, valued at $5,683,305.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles R. Hageboeck sold 7,244 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $123.62, for a total transaction of $895,503.28. Following the completion of the sale, the chief executive officer now owns 45,974 shares in the company, valued at $5,683,305.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,413 shares of company stock valued at $1,149,561. Insiders own 2.45% of the company’s stock.

City Price Performance

Shares of CHCO traded down $2.72 during mid-day trading on Monday, hitting $116.56. 11,956 shares of the stock were exchanged, compared to its average volume of 57,051. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $1.72 billion, a PE ratio of 15.00 and a beta of 0.47. City Holding has a 52-week low of $86.56 and a 52-week high of $125.54. The firm has a 50-day moving average of $116.63 and a two-hundred day moving average of $110.09.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. The company had revenue of $94.90 million for the quarter, compared to analysts’ expectations of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. On average, equities analysts predict that City Holding will post 7.73 earnings per share for the current year.

City Increases Dividend

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

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.