City Holding (NASDAQ:CHCO) – Research analysts at Piper Sandler issued their FY2020 earnings estimates for City in a report issued on Tuesday, January 14th. Piper Sandler analyst C. Whitman expects that the bank will post earnings per share of $5.19 for the year.
Other research analysts also recently issued reports about the company. BidaskClub downgraded City from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Stephens initiated coverage on City in a research note on Monday, January 6th. They set an “equal weight” rating and a $83.50 price target on the stock. ValuEngine downgraded City from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded City from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. City currently has an average rating of “Hold” and an average target price of $82.17.
Shares of CHCO stock traded down $0.12 on Friday, reaching $81.91. The company’s stock had a trading volume of 821 shares, compared to its average volume of 50,636. The stock’s fifty day simple moving average is $81.30 and its 200-day simple moving average is $77.75. City has a 1 year low of $69.15 and a 1 year high of $83.07. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 15.90 and a beta of 0.78.
City (NASDAQ:CHCO) last released its earnings results on Tuesday, October 22nd. The bank reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.04. City had a net margin of 29.76% and a return on equity of 13.96%. The firm had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.85 million.
Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in City by 5.3% during the 3rd quarter. Rhumbline Advisers now owns 53,325 shares of the bank’s stock valued at $4,066,000 after purchasing an additional 2,686 shares in the last quarter. Barclays PLC raised its holdings in City by 3.8% during the 3rd quarter. Barclays PLC now owns 21,568 shares of the bank’s stock valued at $1,646,000 after buying an additional 793 shares during the last quarter. Resources Management Corp CT ADV bought a new stake in City during the 3rd quarter valued at $724,000. First Trust Advisors LP raised its holdings in City by 10.1% during the 3rd quarter. First Trust Advisors LP now owns 24,489 shares of the bank’s stock valued at $1,867,000 after buying an additional 2,241 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in City during the 3rd quarter valued at $297,000. Institutional investors own 66.73% of the company’s stock.
In other City news, CEO Charles R. Hageboeck sold 2,250 shares of City stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $80.16, for a total value of $180,360.00. Following the transaction, the chief executive officer now directly owns 52,509 shares in the company, valued at approximately $4,209,121.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 1,709 shares of City stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.83, for a total value of $138,138.47. Following the completion of the transaction, the chief executive officer now owns 50,800 shares in the company, valued at $4,106,164. The disclosure for this sale can be found here. Insiders have sold a total of 4,459 shares of company stock worth $358,578 in the last 90 days. 3.36% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, January 14th. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. City’s dividend payout ratio is presently 44.19%.
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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