Wall Street brokerages expect City Holding (NASDAQ:CHCO) to report $52.88 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for City’s earnings, with the lowest sales estimate coming in at $50.32 million and the highest estimate coming in at $55.45 million. City posted sales of $47.96 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, January 22nd.
According to Zacks, analysts expect that City will report full year sales of $201.08 million for the current year, with estimates ranging from $198.51 million to $203.64 million. For the next financial year, analysts forecast that the business will post sales of $230.11 million, with estimates ranging from $228.56 million to $231.66 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for City.
City (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The firm had revenue of $51.31 million for the quarter, compared to the consensus estimate of $49.58 million. City had a return on equity of 15.11% and a net margin of 31.58%.
Several research firms recently issued reports on CHCO. BidaskClub upgraded City from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Zacks Investment Research upgraded City from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Friday, November 30th. Boenning Scattergood restated a “hold” rating on shares of City in a report on Tuesday, October 23rd. Finally, ValuEngine downgraded City from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $78.33.
Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG increased its holdings in City by 79.1% during the 1st quarter. UBS Group AG now owns 1,734 shares of the bank’s stock worth $119,000 after purchasing an additional 766 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in City during the 2nd quarter worth about $233,000. JNBA Financial Advisors purchased a new stake in City during the 3rd quarter worth about $239,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in City during the 2nd quarter worth about $246,000. Finally, SG Americas Securities LLC purchased a new stake in City during the 2nd quarter worth about $258,000. Institutional investors own 69.32% of the company’s stock.
CHCO stock opened at $72.29 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.10 billion, a P/E ratio of 18.35, a PEG ratio of 1.78 and a beta of 0.55. City has a 12-month low of $64.32 and a 12-month high of $83.27.
City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. The company accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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