Mach 1 Financial Group LLC Acquires Shares of 4,259 City Holding (NASDAQ:CHCO)

Mach 1 Financial Group LLC bought a new position in City Holding (NASDAQ:CHCO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,259 shares of the bank’s stock, valued at approximately $470,000.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of City during the 3rd quarter valued at approximately $806,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of City by 28.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock valued at $323,000 after buying an additional 789 shares during the period. Teacher Retirement System of Texas raised its position in shares of City by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after buying an additional 301 shares during the period. Victory Capital Management Inc. raised its position in shares of City by 21.4% during the 3rd quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock valued at $818,000 after buying an additional 1,594 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of City during the 3rd quarter valued at approximately $407,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other City news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the transaction, the executive vice president now owns 3,400 shares in the company, valued at $356,116. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other City news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the transaction, the executive vice president now owns 3,400 shares in the company, valued at $356,116. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Derito sold 1,309 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the transaction, the executive vice president now owns 28,620 shares of the company’s stock, valued at approximately $2,897,775. The disclosure for this sale can be found here. Insiders sold a total of 11,981 shares of company stock worth $1,217,039 over the last 90 days. Corporate insiders own 2.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CHCO. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $110.00 target price (up previously from $100.00) on shares of City in a report on Thursday, April 25th. Piper Sandler lifted their target price on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, Stephens dropped their target price on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th.

City Trading Up 1.9 %

City stock traded up $1.89 during trading on Wednesday, hitting $102.91. The company had a trading volume of 8,844 shares, compared to its average volume of 61,001. The company’s 50 day simple moving average is $101.82 and its 200-day simple moving average is $101.39. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 12.71 and a beta of 0.51. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. City Holding has a 1-year low of $82.53 and a 1-year high of $115.89.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $0.715 dividend. The ex-dividend date was Friday, April 12th. This represents a $2.86 annualized dividend and a dividend yield of 2.78%. City’s dividend payout ratio (DPR) is 35.97%.

About City

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.