Leeward Investments LLC MA Cuts Stake in City Holding (NASDAQ:CHCO)

Leeward Investments LLC MA reduced its stake in shares of City Holding (NASDAQ:CHCO) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,521 shares of the bank’s stock after selling 6,138 shares during the period. Leeward Investments LLC MA owned 0.56% of City worth $9,777,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. KBC Group NV lifted its position 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 buying an additional 317 shares in the last quarter. Point72 DIFC Ltd acquired a new position in City during the third quarter valued at approximately $134,000. Crossmark Global Holdings Inc. acquired a new position in City during the third quarter valued at approximately $199,000. Longboard Asset Management LP acquired a new position in City during the fourth quarter valued at approximately $211,000. Finally, Quantbot Technologies LP acquired a new position in City during the third quarter valued at approximately $214,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Trading Down 0.9 %

CHCO opened at $117.19 on Friday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 14.85 and a beta of 0.51. The firm’s 50 day moving average is $119.36 and its 200-day moving average is $120.29. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28. 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 data on Thursday, January 23rd. The bank reported $1.94 earnings per share (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%. Analysts expect that City Holding will post 7.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John A. Derito sold 1,243 shares of City stock in a transaction on Monday, November 25th. The shares were sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the sale, the director now owns 1,014 shares of the company’s stock, valued at approximately $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,299 shares of company stock worth $297,174. Insiders own 2.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHCO. Piper Sandler reduced their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective 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.

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.