Analysts Anticipate City Holding Company (CHCO) Will Announce Quarterly Sales of $47.43 Million

Wall Street analysts expect City Holding Company (NASDAQ:CHCO) to report sales of $47.43 million for the current quarter, according to Zacks. Two analysts have issued estimates for City’s earnings, with estimates ranging from $47.32 million to $47.54 million. City posted sales of $44.75 million during the same quarter last year, which suggests a positive year over year growth rate of 6%. The company is expected to announce its next earnings report on Thursday, January 18th.

On average, analysts expect that City will report full year sales of $47.43 million for the current fiscal year, with estimates ranging from $186.12 million to $190.24 million. For the next fiscal year, analysts anticipate that the company will post sales of $195.70 million per share, with estimates ranging from $194.56 million to $196.84 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover City.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. City 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 quarter in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis.

A number of analysts recently commented on CHCO shares. BidaskClub upgraded shares of City from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research cut shares of City from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, Sandler O’Neill set a $72.00 price objective on shares of City and gave the company a “hold” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $70.75.

City (NASDAQ:CHCO) traded up $1.19 on Friday, hitting $69.15. 69,183 shares of the company were exchanged, compared to its average volume of 44,713. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90. City has a 1-year low of $58.80 and a 1-year high of $74.90. The company has a market cap of $1,061.40, a PE ratio of 18.01, a P/E/G ratio of 1.61 and a beta of 0.84.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Monday, January 15th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from City’s previous quarterly dividend of $0.44. City’s dividend payout ratio is 47.92%.

In other City news, CFO David L. Bumgarner sold 1,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the transaction, the chief financial officer now owns 10,965 shares in the company, valued at approximately $800,445. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.88% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of City by 0.4% in the 2nd quarter. BlackRock Inc. now owns 1,913,498 shares of the bank’s stock valued at $126,042,000 after acquiring an additional 7,009 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of City by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock valued at $96,778,000 after acquiring an additional 57,001 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of City by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock valued at $36,713,000 after acquiring an additional 15,216 shares in the last quarter. Northern Trust Corp grew its holdings in shares of City by 2.2% in the 2nd quarter. Northern Trust Corp now owns 478,138 shares of the bank’s stock valued at $31,495,000 after acquiring an additional 10,505 shares in the last quarter. Finally, Walthausen & Co. LLC grew its holdings in shares of City by 14.1% in the 3rd quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock valued at $12,742,000 after acquiring an additional 21,850 shares in the last quarter. Institutional investors own 64.97% of the company’s stock.

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About City

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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