DA Davidson Weighs in on City Holding Company’s FY2017 Earnings (CHCO)
City Holding Company (NASDAQ:CHCO) – Equities research analysts at DA Davidson cut their FY2017 EPS estimates for shares of City Holding in a report released on Wednesday. DA Davidson analyst R. Gunther now forecasts that the bank will post earnings of $3.84 per share for the year, down from their previous estimate of $3.89. DA Davidson also issued estimates for City Holding’s Q4 2017 earnings at $0.97 EPS and Q4 2018 earnings at $1.04 EPS.
Several other brokerages have also commented on CHCO. BidaskClub raised City Holding from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Zacks Investment Research lowered 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 given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $70.33.
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City Holding (NASDAQ CHCO) opened at 71.73 on Monday. The company has a market cap of $1.12 billion, a P/E ratio of 18.77 and a beta of 0.86. City Holding has a 1-year low of $48.80 and a 1-year high of $74.90. The stock’s 50 day moving average price is $68.88 and its 200 day moving average price is $66.32.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $45.90 million during the quarter, compared to the consensus estimate of $47.18 million. City Holding had a return on equity of 12.34% and a net margin of 29.25%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in City Holding by 0.4% during the second quarter. BlackRock Inc. now owns 1,913,498 shares of the bank’s stock valued at $126,042,000 after purchasing an additional 7,009 shares during the period. Vanguard Group Inc. grew its holdings in City Holding by 4.0% during the second quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock valued at $96,778,000 after purchasing an additional 57,001 shares during the period. Dimensional Fund Advisors LP grew its holdings in City Holding by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 696,154 shares of the bank’s stock valued at $44,888,000 after purchasing an additional 3,451 shares during the period. Macquarie Group Ltd. grew its holdings in City Holding by 4.2% during the first quarter. Macquarie Group Ltd. now owns 513,264 shares of the bank’s stock valued at $33,095,000 after purchasing an additional 20,901 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in City Holding by 27.1% during the second quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock valued at $32,797,000 after purchasing an additional 106,203 shares during the period. 62.53% of the stock is owned by institutional investors and hedge funds.
In other City Holding news, CEO Charles R. Hageboeck sold 2,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was 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 owns 72,984 shares of the company’s stock, valued at $4,581,935.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey Dale Legge sold 899 shares of the business’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 sale, the chief accounting officer now directly owns 7,151 shares of the company’s stock, valued at approximately $483,050.05. The disclosure for this sale can be found here. Insiders own 3.88% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, October 12th. City Holding’s payout ratio is currently 45.83%.
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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