City Holding Company (CHCO) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
City Holding Company (NASDAQ:CHCO) announced its quarterly earnings results on Wednesday. The bank reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01, Briefing.com reports. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The business had revenue of $45.90 million for the quarter, compared to analyst estimates of $47.18 million. During the same quarter in the previous year, the company earned $0.88 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis.
City Holding (NASDAQ:CHCO) traded down 1.58% during midday trading on Thursday, reaching $71.01. The company had a trading volume of 10,041 shares. The company has a market capitalization of $1.11 billion, a P/E ratio of 18.58 and a beta of 0.86. The company’s 50 day moving average is $68.41 and its 200-day moving average is $66.23. City Holding has a 52-week low of $48.46 and a 52-week high of $74.90.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, October 12th. City Holding’s payout ratio is currently 45.95%.
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CHCO has been the topic of a number of recent research reports. BidaskClub raised City Holding from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research lowered City Holding from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $70.33.
In related news, CEO Charles R. Hageboeck sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $62.78, for a total transaction of $125,560.00. Following the completion of the sale, the chief executive officer now directly owns 72,984 shares in the company, valued at $4,581,935.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey Dale Legge sold 899 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total transaction of $60,727.45. Following the sale, the chief accounting officer now owns 7,151 shares of the company’s stock, valued at $483,050.05. The disclosure for this sale can be found here. Company insiders own 3.88% of the company’s stock.
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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