City Holding Company (NASDAQ:CHCO) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Zacks Investment Research raised City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.33.

Shares of City Holding (NASDAQ CHCO) traded up 0.74% during trading on Friday, reaching $71.73. 64,842 shares of the company’s stock traded hands. The stock has a market capitalization of $1.12 billion, a PE ratio of 18.77 and a beta of 0.86. The company has a 50 day moving average price of $68.88 and a 200 day moving average price of $66.32. City Holding has a 1-year low of $50.22 and a 1-year high of $74.90.

City Holding (NASDAQ:CHCO) last announced its earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. City Holding had a return on equity of 12.34% and a net margin of 29.25%. The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $47.18 million. During the same period in the prior year, the company posted $0.88 EPS. City Holding’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that City Holding will post $3.82 EPS for the current fiscal year.

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In other news, CAO Jeffrey Dale Legge sold 899 shares of the business’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 value of $60,727.45. Following the completion of the sale, the chief accounting officer now directly owns 7,151 shares in the company, valued at approximately $483,050.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 2,000 shares of the business’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 value of $125,560.00. Following the completion of the sale, the chief executive officer now owns 72,984 shares of the company’s stock, valued at $4,581,935.52. The disclosure for this sale can be found here. Corporate insiders own 3.88% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC increased its holdings in shares of City Holding by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock valued at $241,000 after acquiring an additional 28 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of City Holding by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 6,400 shares of the bank’s stock valued at $422,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of City Holding by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 8,170 shares of the bank’s stock valued at $538,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of City Holding by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 11,390 shares of the bank’s stock valued at $750,000 after acquiring an additional 114 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of City Holding by 1.6% in the 2nd quarter. Bessemer Group Inc. now owns 22,559 shares of the bank’s stock valued at $1,486,000 after acquiring an additional 359 shares during the last quarter. Institutional investors and hedge funds own 62.53% 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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