BidaskClub Upgrades City (CHCO) to “Hold”

BidaskClub upgraded shares of City (NASDAQ:CHCO) from a sell rating to a hold rating in a report issued on Monday, February 5th.

CHCO has been the topic of a number of other reports. Sandler O’Neill set a $72.00 target price on City and gave the stock a hold rating in a research report on Thursday, January 4th. Zacks Investment Research lowered City from a hold rating to a sell rating in a research report on Monday, October 23rd. Finally, Boenning Scattergood reaffirmed a hold rating on shares of City in a research report on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $70.75.

City (NASDAQ CHCO) opened at $68.89 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.03. City has a 12 month low of $58.80 and a 12 month high of $74.90. The stock has a market capitalization of $1,055.15, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Monday, January 15th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, January 11th. This represents a $1.84 annualized dividend and a yield of 2.67%. This is an increase from City’s previous quarterly dividend of $0.44. City’s dividend payout ratio is 52.72%.

In related news, CFO David L. Bumgarner sold 1,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 10,965 shares in the company, valued at $800,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.88% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in City by 2.9% during the fourth quarter. BlackRock Inc. now owns 2,001,922 shares of the bank’s stock worth $135,070,000 after buying an additional 56,072 shares in the last quarter. Vanguard Group Inc. grew its stake in City by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock valued at $96,778,000 after purchasing an additional 57,001 shares during the period. JPMorgan Chase & Co. grew its stake in City by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock valued at $36,713,000 after purchasing an additional 15,216 shares during the period. Northern Trust Corp grew its stake in City by 2.2% in the 2nd quarter. Northern Trust Corp now owns 478,138 shares of the bank’s stock valued at $31,495,000 after purchasing an additional 10,505 shares during the period. Finally, Macquarie Group Ltd. grew its stake in City by 0.4% in the 4th quarter. Macquarie Group Ltd. now owns 342,678 shares of the bank’s stock valued at $23,120,000 after purchasing an additional 1,250 shares during the period. Institutional investors and hedge funds own 64.55% of the company’s stock.

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City Company Profile

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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