City Holding Company (CHCO) Expected to Post Quarterly Sales of $46.45 Million
Equities research analysts expect City Holding Company (NASDAQ:CHCO) to announce sales of $46.45 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for City Holding’s earnings, with the highest sales estimate coming in at $46.46 million and the lowest estimate coming in at $46.44 million. City Holding posted sales of $44.25 million in the same quarter last year, which suggests a positive year over year growth rate of 5%. The company is expected to announce its next earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that City Holding will report full year sales of $46.45 million for the current financial year, with estimates ranging from $188.45 million to $191.72 million. For the next year, analysts expect that the company will post sales of $196.87 million per share, with estimates ranging from $195.94 million to $197.80 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for City Holding.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings results on Monday, April 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.18. City Holding had a net margin of 28.38% and a return on equity of 12.60%. The company had revenue of $48.95 million during the quarter, compared to the consensus estimate of $46.99 million. During the same period last year, the firm earned $0.78 EPS.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of City Holding from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of City Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine upgraded shares of City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods set a $65.00 target price on shares of City Holding and gave the stock a “hold” rating in a report on Monday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $68.33.
In related news, EVP Craig G. Stilwell sold 7,931 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $64.85, for a total value of $514,325.35. Following the completion of the sale, the executive vice president now owns 26,865 shares in the company, valued at approximately $1,742,195.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles R. Hageboeck sold 6,821 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $65.71, for a total transaction of $448,207.91. Following the completion of the sale, the chief executive officer now owns 75,080 shares of the company’s stock, valued at approximately $4,933,506.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,687 shares of company stock valued at $1,665,964. 3.88% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of City Holding by 6.7% in the first quarter. Wells Fargo & Company MN now owns 33,415 shares of the bank’s stock valued at $2,154,000 after buying an additional 2,089 shares during the period. State of Alaska Department of Revenue increased its stake in shares of City Holding by 6.2% in the first quarter. State of Alaska Department of Revenue now owns 1,720 shares of the bank’s stock valued at $110,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of City Holding by 5.0% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the bank’s stock valued at $406,000 after buying an additional 300 shares during the period. Bank of Montreal Can increased its stake in shares of City Holding by 11.6% in the first quarter. Bank of Montreal Can now owns 36,041 shares of the bank’s stock valued at $2,324,000 after buying an additional 3,733 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of City Holding by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 492,363 shares of the bank’s stock valued at $33,284,000 after buying an additional 34,316 shares during the period. Institutional investors and hedge funds own 62.41% of the company’s stock.
City Holding (NASDAQ CHCO) traded down 0.58% during midday trading on Wednesday, hitting $65.30. 9,594 shares of the stock were exchanged. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 17.59 and a beta of 0.84. The firm’s 50-day moving average is $65.44 and its 200 day moving average is $65.81. City Holding has a 52 week low of $46.10 and a 52 week high of $74.90.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, July 12th. City Holding’s payout ratio is 47.31%.
City Holding 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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