Axxcess Wealth Management LLC Sells 183 Shares of City Holding (NASDAQ:CHCO)

Axxcess Wealth Management LLC reduced its position in City Holding (NASDAQ:CHCO) by 0.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,533 shares of the bank’s stock after selling 183 shares during the period. Axxcess Wealth Management LLC’s holdings in City were worth $12,741,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Leeward Investments LLC MA boosted its holdings in shares of City by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock valued at $9,452,000 after buying an additional 4,725 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in City in the 2nd quarter worth approximately $483,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in City in the 1st quarter worth approximately $1,133,000. Zhang Financial LLC acquired a new stake in City in the 2nd quarter worth approximately $401,000. Finally, Squarepoint Ops LLC boosted its stake in City by 137.5% in the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after purchasing an additional 6,312 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the transaction, the director now directly owns 23,637 shares of the company’s stock, valued at $3,151,521.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares of the company’s stock, valued at approximately $231,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares in the company, valued at $3,151,521.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,384 shares of company stock valued at $422,233 in the last three months. 2.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated a “neutral” rating and issued a $135.00 target price on shares of City in a research note on Friday.

City Stock Performance

CHCO opened at $130.77 on Friday. City Holding has a 12-month low of $92.76 and a 12-month high of $135.83. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.92 billion, a PE ratio of 16.79 and a beta of 0.46. The firm has a 50 day moving average of $117.91 and a two-hundred day moving average of $112.07.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. City had a net margin of 31.18% and a return on equity of 16.60%. The company had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. On average, analysts anticipate that City Holding will post 7.81 EPS for the current year.

City Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.42%. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, October 15th. City’s payout ratio is 40.56%.

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.