Boenning Scattergood reaffirmed their hold rating on shares of City (NASDAQ:CHCO) in a report released on Wednesday morning, TipRanks reports. Boenning Scattergood also issued estimates for City’s Q2 2019 earnings at $1.32 EPS, Q3 2019 earnings at $1.34 EPS and FY2019 earnings at $5.33 EPS.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of City from a hold rating to a buy rating and set a $77.00 price objective on the stock in a research report on Friday, December 21st. BidaskClub downgraded shares of City from a hold rating to a sell rating in a research report on Tuesday, January 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $80.00.
Shares of City stock opened at $80.36 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.07. City has a 52-week low of $65.32 and a 52-week high of $83.27. The company has a market capitalization of $1.33 billion, a PE ratio of 15.57, a PEG ratio of 1.84 and a beta of 0.75.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. City had a net margin of 31.15% and a return on equity of 15.26%. The firm had revenue of $55.99 million for the quarter, compared to the consensus estimate of $55.33 million. On average, equities research analysts expect that City will post 5.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, April 12th. City’s dividend payout ratio is presently 41.09%.
In other City news, CEO Charles R. Hageboeck sold 4,154 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $79.77, for a total transaction of $331,364.58. Following the sale, the chief executive officer now owns 60,405 shares of the company’s stock, valued at approximately $4,818,506.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 1,593 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $79.50, for a total transaction of $126,643.50. Following the sale, the chief executive officer now directly owns 57,121 shares in the company, valued at approximately $4,541,119.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,565 shares of company stock worth $522,916. 3.36% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in CHCO. BlackRock Inc. grew its position in City by 6.3% during the 4th quarter. BlackRock Inc. now owns 2,359,912 shares of the bank’s stock worth $159,507,000 after purchasing an additional 139,779 shares during the last quarter. Norges Bank purchased a new stake in shares of City in the 4th quarter valued at $9,173,000. Macquarie Group Ltd. boosted its holdings in shares of City by 25.6% in the 3rd quarter. Macquarie Group Ltd. now owns 470,684 shares of the bank’s stock valued at $36,149,000 after acquiring an additional 95,894 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after acquiring an additional 36,829 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after acquiring an additional 36,829 shares during the last quarter. 67.34% of the stock is currently owned by institutional investors.
City Company Profile
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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