City Holding Company (NASDAQ:CHCO) Receives $133.25 Consensus PT from Analysts

Shares of City Holding Company (NASDAQ:CHCO) have received a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $133.25.

A number of research firms recently issued reports on CHCO. Zacks Research lowered shares of City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Hovde Group boosted their price objective on City from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. DA Davidson raised their target price on City from $128.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a research report on Friday.

City Stock Down 0.5%

Shares of CHCO stock opened at $121.85 on Monday. The stock’s 50 day simple moving average is $124.58 and its 200 day simple moving average is $121.76. City has a twelve month low of $102.22 and a twelve month high of $137.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 14.01 and a beta of 0.53.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.26. City had a return on equity of 16.66% and a net margin of 32.33%.The firm had revenue of $81.26 million during the quarter, compared to analysts’ expectations of $80.17 million. As a group, research analysts predict that City will post 7.58 EPS for the current year.

City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.79. City’s dividend payout ratio is currently 40.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its position in City by 43.9% during the first quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after buying an additional 86 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of City by 69.7% in the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after acquiring an additional 115 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of City by 463.2% during the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $52,000 after purchasing an additional 352 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of City by 28.4% in the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock valued at $61,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.