Wall Street brokerages expect City Holding (NASDAQ:CHCO) to announce $48.59 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for City’s earnings, with estimates ranging from $48.45 million to $48.73 million. City posted sales of $46.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The company is expected to issue its next quarterly earnings report on Monday, July 23rd.
According to Zacks, analysts expect that City will report full-year sales of $195.36 million for the current financial year, with estimates ranging from $194.59 million to $196.12 million. For the next year, analysts expect that the company will report sales of $204.45 million per share, with estimates ranging from $203.16 million to $205.73 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for City.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, April 19th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. City had a net margin of 27.09% and a return on equity of 12.66%. The business had revenue of $47.14 million during the quarter, compared to analysts’ expectations of $46.99 million.
A number of equities analysts recently commented on CHCO shares. BidaskClub cut shares of City from a “buy” rating to a “hold” rating in a research note on Saturday, April 28th. Zacks Investment Research raised shares of City from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Wednesday, April 4th.
In related news, EVP Craig G. Stilwell sold 967 shares of City stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $74.14, for a total transaction of $71,693.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles R. Hageboeck sold 4,000 shares of City stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $72.25, for a total transaction of $289,000.00. Following the sale, the chief executive officer now owns 59,156 shares of the company’s stock, valued at approximately $4,274,021. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,476 shares of company stock valued at $1,786,315. 3.83% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in City by 79.1% during the 1st quarter. UBS Group AG now owns 1,734 shares of the bank’s stock valued at $119,000 after buying an additional 766 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in City during the 4th quarter valued at about $213,000. WINTON GROUP Ltd bought a new stake in City during the 1st quarter valued at about $233,000. GW&K Investment Management LLC bought a new stake in City during the 1st quarter valued at about $284,000. Finally, Barclays PLC lifted its holdings in City by 103.3% during the 1st quarter. Barclays PLC now owns 5,065 shares of the bank’s stock valued at $348,000 after buying an additional 2,574 shares in the last quarter. Institutional investors own 66.34% of the company’s stock.
Shares of City traded down $1.23, reaching $76.10, on Friday, MarketBeat reports. The company’s stock had a trading volume of 188 shares, compared to its average volume of 50,113. City has a 52-week low of $58.80 and a 52-week high of $79.00. The stock has a market capitalization of $1.19 billion, a P/E ratio of 19.31, a PEG ratio of 2.09 and a beta of 0.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.03.
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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