City Holding (NASDAQ:CHCO) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $78.67.
CHCO has been the subject of several recent analyst reports. DA Davidson set a $77.00 target price on shares of City and gave the stock a “buy” rating in a report on Friday, July 13th. Zacks Investment Research raised shares of City from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Monday, July 16th. BidaskClub raised shares of City from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of City in a research report on Thursday, July 26th. Finally, ValuEngine raised shares of City from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th.
Shares of CHCO opened at $74.91 on Friday. City has a one year low of $64.32 and a one year high of $83.27. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.88 and a beta of 0.57. 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 (NASDAQ:CHCO) last announced its earnings results on Monday, October 22nd. The bank reported $1.33 EPS for the quarter, topping the consensus estimate of $1.19 by $0.14. City had a net margin of 31.58% and a return on equity of 15.11%. The company had revenue of $51.31 million during the quarter, compared to analysts’ expectations of $49.58 million. As a group, analysts anticipate that City will post 4.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from City’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, October 12th. City’s dividend payout ratio is 53.81%.
In other news, EVP John A. Derito sold 2,020 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $82.25, for a total value of $166,145.00. Following the completion of the sale, the executive vice president now directly owns 20,972 shares of the company’s stock, valued at $1,724,947. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig G. Stilwell sold 2,825 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $82.70, for a total transaction of $233,627.50. Following the completion of the sale, the executive vice president now directly owns 23,942 shares of the company’s stock, valued at $1,980,003.40. The disclosure for this sale can be found here. Insiders sold 8,831 shares of company stock valued at $722,639 over the last three months. 3.83% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG raised its position in City by 79.1% during the first quarter. UBS Group AG now owns 1,734 shares of the bank’s stock valued at $119,000 after acquiring an additional 766 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in City during the second quarter valued at approximately $233,000. JNBA Financial Advisors bought a new position in City during the third quarter valued at approximately $239,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in City during the second quarter valued at approximately $246,000. Finally, WINTON GROUP Ltd bought a new position in City during the first quarter valued at approximately $233,000. 66.85% of the stock is owned by institutional investors and hedge funds.
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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