City (NASDAQ:CHCO) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of City (NASDAQ:CHCO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

A number of other research firms have also recently commented on CHCO. Zacks Investment Research cut City from a buy rating to a hold rating in a research note on Friday, August 16th. Hovde Group started coverage on City in a research note on Monday, June 3rd. They issued a market perform rating and a $76.00 target price on the stock. Finally, Boenning Scattergood reissued a neutral rating on shares of City in a research note on Thursday, June 20th. Five research analysts have rated the stock with a hold rating, City currently has an average rating of Hold and a consensus price target of $81.50.

Shares of NASDAQ CHCO traded up $0.54 during trading on Thursday, reaching $78.28. The company had a trading volume of 2,621 shares, compared to its average volume of 60,241. City has a 12-month low of $65.32 and a 12-month high of $83.04. The stock has a market cap of $1.23 billion, a PE ratio of 15.17, a P/E/G ratio of 1.75 and a beta of 0.78. The business’s 50-day moving average is $74.79 and its 200 day moving average is $76.27. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

City (NASDAQ:CHCO) last released its earnings results on Monday, July 22nd. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. City had a return on equity of 14.52% and a net margin of 30.14%. The firm had revenue of $58.74 million for the quarter, compared to analysts’ expectations of $57.24 million. On average, analysts anticipate that City will post 5.36 earnings per share for the current year.

In other news, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $76.65, for a total transaction of $76,650.00. Following the transaction, the chief financial officer now directly owns 8,936 shares of the company’s stock, valued at $684,944.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig G. Stilwell sold 2,700 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $74.92, for a total value of $202,284.00. Following the transaction, the executive vice president now directly owns 15,696 shares in the company, valued at $1,175,944.32. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.

Several large investors have recently made changes to their positions in CHCO. BNP Paribas Arbitrage SA lifted its holdings in shares of City by 932.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,674 shares of the bank’s stock valued at $280,000 after purchasing an additional 3,318 shares in the last quarter. SG Americas Securities LLC lifted its holdings in City by 143.6% in the first quarter. SG Americas Securities LLC now owns 6,671 shares of the bank’s stock valued at $508,000 after acquiring an additional 3,932 shares during the period. Rhumbline Advisers lifted its holdings in City by 2.1% in the first quarter. Rhumbline Advisers now owns 49,152 shares of the bank’s stock valued at $3,745,000 after acquiring an additional 1,014 shares during the period. Comerica Bank lifted its holdings in City by 2.1% in the first quarter. Comerica Bank now owns 16,424 shares of the bank’s stock valued at $1,292,000 after acquiring an additional 332 shares during the period. Finally, Texas Permanent School Fund lifted its holdings in City by 3.6% in the first quarter. Texas Permanent School Fund now owns 11,277 shares of the bank’s stock valued at $859,000 after acquiring an additional 391 shares during the period. 66.83% of the stock is currently owned by hedge funds and other 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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