City (NASDAQ:CHCO) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.
Several other research firms have also issued reports on CHCO. Zacks Investment Research lowered City from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Sandler O’Neill set a $72.00 price objective on City and gave the stock a “hold” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. City currently has an average rating of “Hold” and a consensus price target of $70.75.
City (NASDAQ CHCO) opened at $69.15 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90. City has a 12 month low of $58.80 and a 12 month high of $74.90. The stock has a market capitalization of $1,080.00, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84.
City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. City had a return on equity of 12.34% and a net margin of 29.25%. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $47.18 million. During the same period in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. equities analysts anticipate that City will post 3.84 EPS for the current fiscal year.
In other news, CFO David L. Bumgarner sold 1,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the sale, the chief financial officer now owns 10,965 shares in the company, valued at $800,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CHCO. Victory Capital Management Inc. grew its holdings in shares of City by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock worth $201,000 after purchasing an additional 458 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of City during the second quarter worth $222,000. Neuberger Berman Group LLC grew its holdings in shares of City by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock worth $241,000 after purchasing an additional 28 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of City during the second quarter worth $241,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of City during the third quarter worth $248,000. Institutional investors own 64.97% of the company’s stock.
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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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