Wall Street analysts expect that City Holding (NASDAQ:CHCO) will announce $46.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for City’s earnings, with the highest sales estimate coming in at $47.52 million and the lowest estimate coming in at $46.46 million. City posted sales of $48.95 million in the same quarter last year, which suggests a negative year over year growth rate of 4%. The firm is expected to issue its next earnings report on Monday, April 23rd.
According to Zacks, analysts expect that City will report full-year sales of $195.14 million for the current fiscal year, with estimates ranging from $194.11 million to $196.16 million. For the next fiscal year, analysts expect that the business will post sales of $204.91 million per share, with estimates ranging from $204.84 million to $204.97 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for City.
City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.11. City had a return on equity of 12.40% and a net margin of 26.25%. The business had revenue of $47.96 million for the quarter, compared to the consensus estimate of $47.43 million.
Several equities analysts have recently commented on the company. BidaskClub upgraded City from a “hold” rating to a “buy” rating in a research report on Wednesday, March 21st. Zacks Investment Research upgraded City from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Wednesday, April 4th. Boenning Scattergood restated a “hold” rating on shares of City in a research report on Wednesday, January 24th. Finally, Sandler O’Neill set a $72.00 price objective on City and gave the company a “hold” rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. City has a consensus rating of “Buy” and an average target price of $74.50.
In other news, CEO Charles R. Hageboeck sold 5,114 shares of City stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $68.29, for a total value of $349,235.06. Following the sale, the chief executive officer now directly owns 70,863 shares of the company’s stock, valued at $4,839,234.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.83% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of City by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 66,221 shares of the bank’s stock worth $4,468,000 after purchasing an additional 848 shares during the last quarter. Geode Capital Management LLC increased its stake in City by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 144,948 shares of the bank’s stock worth $9,779,000 after acquiring an additional 1,174 shares during the last quarter. Macquarie Group Ltd. increased its stake in City by 0.4% during the fourth quarter. Macquarie Group Ltd. now owns 342,678 shares of the bank’s stock worth $23,120,000 after acquiring an additional 1,250 shares during the last quarter. GWM Advisors LLC increased its stake in City by 8.2% during the fourth quarter. GWM Advisors LLC now owns 17,819 shares of the bank’s stock worth $1,194,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in City by 8.2% during the fourth quarter. Scotia Capital Inc. now owns 18,904 shares of the bank’s stock worth $1,276,000 after acquiring an additional 1,427 shares during the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of City stock opened at $71.57 on Friday. City has a 52 week low of $58.80 and a 52 week high of $74.90. The stock has a market capitalization of $1,104.62, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.84 annualized dividend and a dividend yield of 2.57%. City’s dividend payout ratio (DPR) is 46.70%.
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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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