City Holding Company (NASDAQ:CHCO) – Equities research analysts at Boenning Scattergood cut their FY2017 EPS estimates for shares of City Holding in a report released on Wednesday. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will post earnings of $3.82 per share for the year, down from their previous estimate of $3.88. Boenning Scattergood also issued estimates for City Holding’s Q4 2017 earnings at $0.95 EPS and FY2018 earnings at $3.80 EPS.

A number of other analysts have also issued reports on CHCO. BidaskClub lowered shares of City Holding from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $70.33.

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Shares of City Holding (NASDAQ CHCO) opened at 71.73 on Monday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 18.77 and a beta of 0.86. The stock’s 50 day moving average is $68.88 and its 200 day moving average is $66.32. City Holding has a 52-week low of $48.80 and a 52-week high of $74.90.

City Holding (NASDAQ:CHCO) last released its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $47.18 million. City Holding had a net margin of 29.25% and a return on equity of 12.34%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new stake in City Holding during the second quarter worth approximately $222,000. Susquehanna International Group LLP acquired a new stake in City Holding during the second quarter worth approximately $241,000. Scotia Capital Inc. boosted its position in City Holding by 14.1% during the second quarter. Scotia Capital Inc. now owns 16,047 shares of the bank’s stock worth $1,057,000 after acquiring an additional 1,985 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in City Holding by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 152,590 shares of the bank’s stock worth $10,051,000 after acquiring an additional 3,457 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in City Holding during the second quarter worth approximately $2,178,000. Hedge funds and other institutional investors own 62.53% of the company’s stock.

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 sale, the chief executive officer now owns 72,984 shares in the company, valued at $4,581,935.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at approximately $483,050.05. The disclosure for this sale can be found here. 3.88% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.76 dividend on an annualized basis and a yield of 2.45%. City Holding’s dividend payout ratio (DPR) is currently 45.83%.

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.

Earnings History and Estimates for City Holding (NASDAQ:CHCO)

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