Nicholson Wealth Management Group LLC Invests $1.45 Million in City Holding (NASDAQ:CHCO)

Nicholson Wealth Management Group LLC purchased a new stake in shares of City Holding (NASDAQ:CHCO) in the third quarter, HoldingsChannel.com reports. The firm purchased 12,345 shares of the bank’s stock, valued at approximately $1,449,000. City accounts for approximately 1.2% of Nicholson Wealth Management Group LLC’s portfolio, making the stock its 18th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its holdings in City by 5.5% in the first quarter. Westwood Holdings Group Inc. now owns 614,511 shares of the bank’s stock valued at $64,044,000 after acquiring an additional 32,069 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of City in the 1st quarter worth approximately $1,133,000. Dimensional Fund Advisors LP increased its holdings in shares of City by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after acquiring an additional 10,740 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of City by 137.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock valued at $1,158,000 after acquiring an additional 6,312 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in City by 6.0% in the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock worth $9,349,000 after purchasing an additional 4,989 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Stock Up 0.2 %

CHCO stock opened at $116.74 on Friday. The firm has a fifty day moving average price of $116.97 and a two-hundred day moving average price of $110.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80. City Holding has a 1-year low of $86.97 and a 1-year high of $125.54. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 14.68 and a beta of 0.47.

City (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. The firm had revenue of $94.90 million for the quarter, compared to analyst estimates of $73.20 million. City had a net margin of 32.12% and a return on equity of 17.42%. Research analysts predict that City Holding will post 7.73 EPS for the current year.

City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $0.79 dividend. This is an increase from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.71%. City’s dividend payout ratio (DPR) is 39.75%.

Insider Activity at City

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at $231,240. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares of the company’s stock, valued at $231,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the transaction, the director now directly owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

City Company 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.