City Holding (CHCO) Shares Bought by First Trust Advisors LP
First Trust Advisors LP lifted its holdings in shares of City Holding (NASDAQ:CHCO) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,943 shares of the bank’s stock after acquiring an additional 2,011 shares during the quarter. First Trust Advisors LP’s holdings in City were worth $2,493,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CHCO. Crossmark Global Holdings Inc. bought a new position in shares of City during the 3rd quarter worth approximately $248,000. Prudential Financial Inc. boosted its stake in City by 21.2% in the 3rd quarter. Prudential Financial Inc. now owns 32,193 shares of the bank’s stock valued at $2,315,000 after purchasing an additional 5,640 shares during the period. BNP Paribas Arbitrage SA boosted its stake in City by 83.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,774 shares of the bank’s stock valued at $631,000 after purchasing an additional 4,004 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in City by 59.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the bank’s stock valued at $421,000 after purchasing an additional 2,170 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in City by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock valued at $36,713,000 after purchasing an additional 15,216 shares during the period. Institutional investors own 66.92% of the company’s stock.
CHCO has been the subject of several recent research reports. Zacks Investment Research downgraded City from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. BidaskClub upgraded City from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Boenning Scattergood restated a “hold” rating on shares of City in a research note on Wednesday, January 24th. Finally, Sandler O’Neill set a $72.00 price target on City and gave the company a “hold” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. City currently has a consensus rating of “Hold” and an average price target of $71.67.
City (NASDAQ:CHCO) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.11. The business had revenue of $47.96 million during the quarter, compared to the consensus estimate of $47.43 million. City had a return on equity of 12.40% and a net margin of 26.25%. equities analysts predict that City Holding will post 4.57 earnings per share for the current fiscal year.
In other City news, CEO Charles R. Hageboeck sold 5,114 shares of City stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $68.29, for a total value of $349,235.06. Following the completion of the transaction, the chief executive officer now directly owns 70,863 shares of the company’s stock, valued at approximately $4,839,234.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.88% of the stock is owned by insiders.
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City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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