Equities research analysts expect City Holding (NASDAQ:CHCO) to report earnings of $1.34 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for City’s earnings, with estimates ranging from $1.33 to $1.35. City posted earnings per share of $1.33 during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The business is expected to announce its next quarterly earnings results on Monday, October 28th.
According to Zacks, analysts expect that City will report full-year earnings of $5.36 per share for the current financial year, with EPS estimates ranging from $5.33 to $5.41. For the next year, analysts expect that the business will report earnings of $5.40 per share, with EPS estimates ranging from $5.34 to $5.47. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for City.
City (NASDAQ:CHCO) last released its earnings results on Monday, July 22nd. The bank reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.08. The firm had revenue of $58.74 million during the quarter, compared to analyst estimates of $57.24 million. City had a return on equity of 14.52% and a net margin of 30.14%.
A number of equities research analysts have issued reports on the company. Boenning Scattergood reissued a “neutral” rating on shares of City in a research report on Thursday, June 20th. Hovde Group assumed coverage on City in a research report on Monday, June 3rd. They set a “market perform” rating and a $76.00 price target for the company. Zacks Investment Research downgraded City from a “buy” rating to a “hold” rating in a research report on Friday. Finally, BidaskClub raised City from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, City has a consensus rating of “Hold” and an average target price of $81.50.
In other news, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $76.65, for a total value of $76,650.00. Following the completion of the sale, the chief financial officer now owns 8,936 shares of the company’s stock, valued at $684,944.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig G. Stilwell sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $74.92, for a total value of $202,284.00. Following the completion of the sale, the executive vice president now directly owns 15,696 shares of the company’s stock, valued at approximately $1,175,944.32. The disclosure for this sale can be found here. 3.36% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new position in shares of City in the second quarter worth about $26,000. Advisory Services Network LLC acquired a new position in shares of City in the second quarter worth about $35,000. Everence Capital Management Inc. acquired a new position in shares of City in the second quarter worth about $222,000. BNP Paribas Arbitrage SA lifted its stake in shares of City by 932.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,674 shares of the bank’s stock worth $280,000 after acquiring an additional 3,318 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of City by 24.1% in the second quarter. Scotia Capital Inc. now owns 3,819 shares of the bank’s stock worth $291,000 after acquiring an additional 741 shares in the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.
City stock traded down $0.75 during trading on Thursday, hitting $75.20. The company’s stock had a trading volume of 1,465 shares, compared to its average volume of 64,027. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.77 and a beta of 0.76. The stock’s fifty day moving average is $75.50 and its 200 day moving average is $76.47. City has a 1-year low of $65.32 and a 1-year high of $83.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, July 12th. City’s payout ratio is 41.09%.
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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