Zacks: City Holding Company (CHCO) Receives Average Rating of “Hold” from Brokerages
City Holding Company (NASDAQ:CHCO) has been assigned a consensus broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Brokerages have set a one year consensus price target of $71.00 for the company and are expecting that the company will post $0.96 earnings per share for the current quarter, according to Zacks. Zacks has also given City Holding an industry rank of 203 out of 265 based on the ratings given to related companies.
Several equities research analysts have recently issued reports on CHCO shares. BidaskClub lowered shares of City Holding from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 price target for the company in a research note on Wednesday, July 26th.
Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in City Holding by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock valued at $201,000 after buying an additional 458 shares in the last quarter. State of Alaska Department of Revenue grew its stake in City Holding by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock valued at $202,000 after buying an additional 1,361 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in City Holding in the 2nd quarter valued at $222,000. Crossmark Global Holdings Inc. bought a new position in City Holding in the 3rd quarter valued at $248,000. Finally, Neuberger Berman Group LLC boosted its holdings in 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 purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 63.91% of the company’s stock.
Shares of City Holding (NASDAQ:CHCO) opened at $68.53 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $1,056.87, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. City Holding has a one year low of $58.80 and a one year high of $74.90.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings data 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 during 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 company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. equities research analysts forecast that City Holding will post 3.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.76 annualized dividend and a dividend yield of 2.57%. City Holding’s payout ratio is currently 45.83%.
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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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