Virtu Financial LLC Purchases Shares of 7,273 City Holding (NASDAQ:CHCO)

Virtu Financial LLC purchased a new position in shares of City Holding (NASDAQ:CHCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,273 shares of the bank’s stock, valued at approximately $862,000.

Several other hedge funds have also made changes to their positions in CHCO. Smartleaf Asset Management LLC lifted its position in City by 710.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after buying an additional 405 shares during the period. KBC Group NV lifted its holdings in shares of City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after acquiring an additional 317 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of City in the third quarter worth approximately $134,000. PNC Financial Services Group Inc. grew its holdings in City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock valued at $162,000 after purchasing an additional 131 shares during the period. Finally, Longboard Asset Management LP acquired a new position in City during the fourth quarter worth approximately $211,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Price Performance

City stock opened at $119.85 on Tuesday. The firm has a fifty day moving average of $118.12 and a 200-day moving average of $120.55. 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. The firm has a market capitalization of $1.76 billion, a P/E ratio of 15.19 and a beta of 0.48.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, analysts predict that City Holding will post 7.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler reduced their target price on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, January 24th.

Insider Activity at City

In other news, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David L. Bumgarner sold 556 shares of City stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total transaction of $66,720.00. Following the sale, the chief financial officer now directly owns 9,395 shares in the company, valued at $1,127,400. This trade represents a 5.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,226 shares of company stock worth $147,200. 2.45% of the stock is currently owned by company insiders.

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.