Shares of City Holding (NASDAQ:CHCO) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $76.00.
Several equities research analysts have recently issued reports on the company. Boenning Scattergood reaffirmed an “outperform” rating and issued a $47.75 price objective on shares of WSFS Financial in a research note on Thursday, June 20th. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Hovde Group initiated coverage on City in a report on Monday, June 3rd. They issued a “market perform” rating and a $76.00 price target on the stock. Finally, BidaskClub upgraded Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd.
Shares of NASDAQ:CHCO traded down $0.15 during trading on Thursday, hitting $74.80. The company had a trading volume of 49,725 shares, compared to its average volume of 52,524. The company has a market cap of $1.26 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78. City has a one year low of $65.32 and a one year high of $83.27. The stock has a fifty day moving average price of $75.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87.
City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $55.99 million during the quarter, compared to analyst estimates of $55.33 million. City had a return on equity of 15.10% and a net margin of 31.16%. As a group, research analysts anticipate that City will post 5.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $0.53 dividend. The ex-dividend date is Friday, July 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.83%. City’s payout ratio is 41.09%.
In other news, CEO Charles R. Hageboeck sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $80.27, for a total value of $642,160.00. Following the sale, the chief executive officer now directly owns 62,157 shares in the company, valued at $4,989,342.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Craig G. Stilwell sold 645 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $79.25, for a total value of $51,116.25. Following the completion of the sale, the executive vice president now owns 21,661 shares in the company, valued at $1,716,634.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,173 shares of company stock worth $1,131,079. Company insiders own 3.36% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Magnus Financial Group LLC purchased a new stake in shares of City in the fourth quarter worth approximately $211,000. BNP Paribas Arbitrage SA increased its holdings in City by 932.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,674 shares of the bank’s stock worth $280,000 after purchasing an additional 3,318 shares during the period. Piedmont Investment Advisors Inc. increased its holdings in City by 5.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,156 shares of the bank’s stock worth $317,000 after purchasing an additional 210 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in City during the 4th quarter worth $302,000. Finally, Acadian Asset Management LLC purchased a new position in City during the 1st quarter worth $361,000. Hedge funds and other institutional investors own 67.75% 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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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