Q3 2018 EPS Estimates for City Holding Company (CHCO) Boosted by DA Davidson
City Holding Company (NASDAQ:CHCO) – Stock analysts at DA Davidson raised their Q3 2018 EPS estimates for shares of City Holding in a report released on Wednesday. DA Davidson analyst R. Gunther now anticipates that the bank will earn $0.96 per share for the quarter, up from their prior forecast of $0.95. DA Davidson also issued estimates for City Holding’s Q1 2019 earnings at $0.93 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.01 EPS and FY2019 earnings at $4.00 EPS.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded City Holding from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Investment Research downgraded City Holding from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. City Holding has a consensus rating of “Hold” and a consensus target price of $70.33.
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City Holding (CHCO) traded up 0.74% during midday trading on Friday, hitting $71.73. 61,942 shares of the company traded hands. The stock has a 50 day moving average price of $68.64 and a 200-day moving average price of $66.26. The company has a market cap of $1.12 billion, a PE ratio of 18.77 and a beta of 0.86. City Holding has a 12-month low of $48.80 and a 12-month high of $74.90.
City Holding (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. City Holding had a net margin of 29.25% and a return on equity of 12.52%. The business had revenue of $45.90 million during the quarter, compared to the consensus estimate of $47.18 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be issued a $0.44 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.45%. City Holding’s dividend payout ratio is 45.83%.
In other news, CEO Charles R. Hageboeck sold 2,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $62.78, for a total value of $125,560.00. Following the transaction, the chief executive officer now owns 72,984 shares in the company, valued at approximately $4,581,935.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey Dale Legge sold 899 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total value of $60,727.45. Following the completion of the transaction, the chief accounting officer now owns 7,151 shares in the company, valued at approximately $483,050.05. The disclosure for this sale can be found here. 3.88% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in City Holding in the first quarter worth approximately $108,000. Victory Capital Management Inc. acquired a new position in City Holding in the first quarter worth approximately $167,000. State of Alaska Department of Revenue increased its holdings in City Holding by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock worth $202,000 after buying an additional 1,361 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in City Holding in the second quarter worth approximately $222,000. Finally, Mason Street Advisors LLC increased its holdings in City Holding by 11.1% in the first quarter. Mason Street Advisors LLC now owns 3,642 shares of the bank’s stock worth $235,000 after buying an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 62.53% of the company’s stock.
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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