City Holding Company (CHCO) Lowered to “Sell” at BidaskClub

City Holding Company (NASDAQ:CHCO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, November 10th.

Separately, Zacks Investment Research raised shares of City from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $70.33.

City (CHCO) traded down $0.41 during midday trading on Friday, reaching $68.17. 18,700 shares of the company’s stock traded hands, compared to its average volume of 57,352. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. City has a 1 year low of $58.80 and a 1 year high of $74.90. The company has a market capitalization of $1,064.68, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.78 and a beta of 0.85.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. City had a net margin of 29.25% and a return on equity of 12.34%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $47.18 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. sell-side analysts expect that City will post 3.83 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of City in the first quarter valued at about $108,000. Victory Capital Management Inc. raised its position in shares of City by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock valued at $201,000 after purchasing an additional 458 shares during the period. State of Alaska Department of Revenue raised its position in shares of City by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock valued at $202,000 after purchasing an additional 1,361 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of City in the second quarter valued at about $222,000. Finally, Neuberger Berman Group LLC raised its position in shares of City by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock valued at $241,000 after purchasing an additional 28 shares during the period. 63.91% of the stock is currently owned by institutional investors.

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City Company Profile

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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