City Holding Company (NASDAQ:CHCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “City Holding Company is a multi-bank holding company that provides diversified financial products and services to consumers and local businesses. “

Separately, BidaskClub lowered shares of City Holding from a “strong-buy” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $70.33.

City Holding (CHCO) traded down 0.95% on Monday, reaching $71.05. The company had a trading volume of 57,333 shares. The stock has a 50 day moving average price of $68.88 and a 200 day moving average price of $66.32. City Holding has a 52-week low of $48.80 and a 52-week high of $74.90. The stock has a market capitalization of $1.11 billion, a PE ratio of 18.59 and a beta of 0.86.

City Holding (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. City Holding had a net margin of 29.25% and a return on equity of 12.34%. The business had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $47.18 million. During the same period last year, the company posted $0.88 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Analysts expect that City Holding will post $3.85 EPS for the current year.

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In other City Holding news, CAO Jeffrey Dale Legge sold 899 shares of City Holding stock in a transaction on Wednesday, July 26th. The shares were 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 approximately $483,050.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 2,000 shares of City Holding stock in a transaction 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 transaction, the chief executive officer now owns 72,984 shares in the company, valued at approximately $4,581,935.52. The disclosure for this sale can be found here. 3.88% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CHCO. Parametric Portfolio Associates LLC lifted its holdings in shares of City Holding by 5.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 45,442 shares of the bank’s stock valued at $2,930,000 after acquiring an additional 2,421 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of City Holding by 4.3% during the 1st quarter. Prudential Financial Inc. now owns 26,881 shares of the bank’s stock valued at $1,733,000 after acquiring an additional 1,100 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of City Holding by 34.8% during the 2nd quarter. First Trust Advisors LP now owns 38,774 shares of the bank’s stock valued at $2,554,000 after acquiring an additional 10,005 shares in the last quarter. Swiss National Bank lifted its holdings in shares of City Holding by 5.7% during the 2nd quarter. Swiss National Bank now owns 26,000 shares of the bank’s stock valued at $1,713,000 after acquiring an additional 1,400 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of City Holding by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock valued at $32,797,000 after acquiring an additional 106,203 shares in the last quarter. 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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