Analysts expect City Holding (NASDAQ:CHCO) to announce $1.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for City’s earnings, with estimates ranging from $1.06 to $1.08. City posted earnings of $1.04 per share in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is scheduled to report its next earnings report on Monday, April 23rd.
On average, analysts expect that City will report full year earnings of $4.48 per share for the current year, with EPS estimates ranging from $4.25 to $4.64. For the next fiscal year, analysts anticipate that the company will report earnings of $4.77 per share, with EPS estimates ranging from $4.73 to $4.80. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover City.
CHCO has been the subject of several recent research reports. BidaskClub cut shares of City from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 20th. Boenning Scattergood reissued a “hold” rating on shares of City in a research report on Wednesday, January 24th. Sandler O’Neill set a $72.00 price target on shares of City and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research raised shares of City from a “sell” rating to a “hold” rating and set a $78.00 price target for the company in a research report on Friday, December 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $70.75.
City (CHCO) traded up $0.18 during trading on Friday, reaching $66.01. 5,369 shares of the company traded hands, compared to its average volume of 48,441. 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 12-month low of $58.80 and a 12-month high of $74.90. The firm has a market cap of $1,027.67, a P/E ratio of 16.66, a PEG ratio of 1.84 and a beta of 0.77.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Monday, January 15th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.79%. The ex-dividend date was Thursday, January 11th. This is a boost from City’s previous quarterly dividend of $0.44. City’s dividend payout ratio (DPR) is currently 52.72%.
In other City news, CFO David L. Bumgarner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the chief financial officer now owns 10,965 shares of the company’s stock, valued at approximately $800,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its position in shares of City by 5.6% during the 2nd quarter. Voya Investment Management LLC now owns 9,379 shares of the bank’s stock worth $618,000 after purchasing an additional 499 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of City by 6.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,410 shares of the bank’s stock worth $620,000 after purchasing an additional 590 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of City by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 104,355 shares of the bank’s stock worth $6,874,000 after purchasing an additional 645 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of City by 1.3% during the 4th 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. Finally, New York State Common Retirement Fund lifted its position in shares of City by 7.8% during the 2nd quarter. New York State Common Retirement Fund now owns 16,500 shares of the bank’s stock worth $1,087,000 after purchasing an additional 1,199 shares during the last quarter. 64.81% of the stock is owned by institutional investors and hedge funds.
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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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