Zacks: Analysts Anticipate City Holding Company (CHCO) Will Announce Quarterly Sales of $47.26 Million
Equities research analysts forecast that City Holding Company (NASDAQ:CHCO) will announce sales of $47.26 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for City Holding’s earnings. The highest sales estimate is $47.65 million and the lowest is $46.88 million. City Holding reported sales of $46.53 million in the same quarter last year, which suggests a positive year over year growth rate of 1.6%. The business is scheduled to report its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that City Holding will report full year sales of $47.26 million for the current fiscal year, with estimates ranging from $190.39 million to $191.73 million. For the next financial year, analysts anticipate that the company will report sales of $197.28 million per share, with estimates ranging from $196.82 million to $197.75 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for City Holding.
City Holding (NASDAQ:CHCO) last issued its earnings results on Monday, July 24th. The bank reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.11. City Holding had a net margin of 29.07% and a return on equity of 12.62%. The company had revenue of $46.18 million for the quarter, compared to the consensus estimate of $46.45 million. During the same quarter in the previous year, the company earned $0.83 EPS.
A number of brokerages recently commented on CHCO. Zacks Investment Research upgraded City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, July 26th. BidaskClub cut City Holding from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. ValuEngine upgraded City Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods set a $65.00 price target on City Holding and gave the stock a “hold” rating in a research report on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.33.
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In related news, CAO Jeffrey Dale Legge sold 899 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total value of $60,727.45. Following the transaction, the chief accounting officer now owns 7,151 shares in the company, valued at $483,050.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig G. Stilwell sold 7,931 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $64.85, for a total value of $514,325.35. Following the completion of the transaction, the executive vice president now owns 26,865 shares in the company, valued at approximately $1,742,195.25. The disclosure for this sale can be found here. Insiders sold 26,586 shares of company stock worth $1,726,691 in the last 90 days. 3.88% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CHCO. BlackRock Inc. raised its stake in City Holding by 43,960.3% in the first quarter. BlackRock Inc. now owns 1,906,489 shares of the bank’s stock valued at $122,929,000 after buying an additional 1,902,162 shares during the period. Vanguard Group Inc. raised its stake in City Holding by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,412,228 shares of the bank’s stock valued at $91,061,000 after buying an additional 61,429 shares during the period. Dimensional Fund Advisors LP raised its stake in City Holding by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 696,154 shares of the bank’s stock valued at $44,888,000 after buying an additional 3,451 shares during the period. Macquarie Group Ltd. raised its stake in City Holding by 4.2% in the first quarter. Macquarie Group Ltd. now owns 513,264 shares of the bank’s stock valued at $33,095,000 after buying an additional 20,901 shares during the period. Finally, State Street Corp raised its stake in City Holding by 14.4% in the first quarter. State Street Corp now owns 489,105 shares of the bank’s stock valued at $31,536,000 after buying an additional 61,409 shares during the period. 62.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of City Holding (NASDAQ CHCO) opened at 64.35 on Tuesday. City Holding has a 52 week low of $47.26 and a 52 week high of $74.90. The firm has a market cap of $1.00 billion, a P/E ratio of 16.84 and a beta of 0.84. The stock has a 50 day moving average of $65.93 and a 200 day moving average of $65.79.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Wednesday, July 12th. City Holding’s payout ratio is currently 45.95%.
About City Holding
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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