A number of other equities analysts also recently commented on the company. ValuEngine downgraded City from a hold rating to a sell rating in a research report on Tuesday, January 14th. Stephens initiated coverage on City in a research report on Monday, January 6th. They issued an equal weight rating and a $83.50 target price on the stock. Finally, Zacks Investment Research upgraded City from a sell rating to a hold rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. City presently has an average rating of Hold and a consensus target price of $82.17.
City stock traded down $1.33 during trading on Thursday, reaching $78.55. 45,009 shares of the company were exchanged, compared to its average volume of 50,494. City has a 52-week low of $69.15 and a 52-week high of $83.07. The company has a market capitalization of $1.31 billion, a P/E ratio of 16.64 and a beta of 0.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $81.56 and its two-hundred day simple moving average is $77.92.
City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.04. City had a return on equity of 13.96% and a net margin of 29.76%. The firm had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.85 million. As a group, equities analysts forecast that City will post 5.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $0.57 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $2.28 dividend on an annualized basis and a yield of 2.90%. City’s dividend payout ratio is currently 44.19%.
In other news, CEO Charles R. Hageboeck sold 2,250 shares of City stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.16, for a total value of $180,360.00. Following the completion of the sale, the chief executive officer now directly owns 52,509 shares of the company’s stock, valued at $4,209,121.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles R. Hageboeck sold 1,709 shares of City stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.83, for a total value of $138,138.47. Following the completion of the sale, the chief executive officer now directly owns 50,800 shares of the company’s stock, valued at $4,106,164. The disclosure for this sale can be found here. Insiders sold 4,459 shares of company stock worth $358,578 in the last 90 days. Company insiders own 3.36% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of City in the third quarter valued at $147,000. Stifel Financial Corp acquired a new stake in shares of City in the third quarter valued at $297,000. Squarepoint Ops LLC acquired a new position in City during the 3rd quarter worth $301,000. Cambridge Investment Research Advisors Inc. grew its stake in City by 3.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,193 shares of the bank’s stock worth $320,000 after purchasing an additional 152 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new position in City during the 3rd quarter worth $359,000. 66.72% of the stock is owned by institutional investors and hedge funds.
City Company Profile
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.
See Also: What is meant by a buy rating?
Receive News & Ratings for City Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City and related companies with MarketBeat.com's FREE daily email newsletter.