City Holding Company (NASDAQ:CHCO) – Investment analysts at DA Davidson raised their Q1 2018 EPS estimates for shares of City in a research report issued to clients and investors on Wednesday. DA Davidson analyst R. Gunther now forecasts that the bank will earn $1.06 per share for the quarter, up from their prior forecast of $0.87. DA Davidson also issued estimates for City’s Q4 2018 earnings at $1.23 EPS, FY2018 earnings at $4.55 EPS, Q2 2019 earnings at $1.19 EPS and FY2019 earnings at $4.80 EPS.
Several other research firms also recently weighed in on CHCO. Boenning Scattergood reaffirmed a “hold” rating on shares of City in a report on Wednesday, January 24th. Zacks Investment Research raised shares of City from a “sell” rating to a “hold” rating and set a $78.00 price objective for the company in a report on Friday, December 22nd. BidaskClub cut shares of City from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Sandler O’Neill set a $72.00 price target on shares of City and gave the stock a “hold” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.75.
Shares of City (CHCO) opened at $69.54 on Monday. The firm has a market cap of $1,071.86, a PE ratio of 19.93, a P/E/G ratio of 1.62 and a beta of 0.84. City has a 1-year low of $58.80 and a 1-year high of $74.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in City by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,913,498 shares of the bank’s stock worth $126,042,000 after buying an additional 7,009 shares during the period. Vanguard Group Inc. raised its holdings in City by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock worth $96,778,000 after buying an additional 57,001 shares during the period. JPMorgan Chase & Co. raised its holdings in City by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock worth $36,713,000 after buying an additional 15,216 shares during the period. Northern Trust Corp raised its holdings in City by 2.2% during the 2nd quarter. Northern Trust Corp now owns 478,138 shares of the bank’s stock worth $31,495,000 after buying an additional 10,505 shares during the period. Finally, Walthausen & Co. LLC raised its holdings in City by 14.1% during the 3rd quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock worth $12,742,000 after buying an additional 21,850 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.
In other City news, CFO David L. Bumgarner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the sale, the chief financial officer now directly owns 10,965 shares in the company, valued at $800,445. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.88% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Monday, January 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from City’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 2.65%. City’s payout ratio is 52.72%.
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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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