Sandler O’Neill set a $72.00 price target on City (NASDAQ:CHCO) in a research report report published on Thursday morning. The brokerage currently has a hold rating on the bank’s stock.
Several other equities analysts have also recently weighed in on the company. BidaskClub raised City from a sell rating to a hold rating in a research note on Thursday, September 21st. Zacks Investment Research cut City from a hold rating to a sell rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $70.75.
City (NASDAQ:CHCO) traded up $0.56 during trading hours on Thursday, reaching $67.26. The company’s stock had a trading volume of 48,866 shares, compared to its average volume of 65,797. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. City has a 52 week low of $58.80 and a 52 week high of $74.90. The stock has a market cap of $1,050.00, a PE ratio of 17.56, a PEG ratio of 1.65 and a beta of 0.84.
City (NASDAQ:CHCO) last released its earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. City had a return on equity of 12.34% and a net margin of 29.25%. The company had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $47.18 million. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. sell-side analysts forecast that City will post 3.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.74%. This is a positive change from City’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, January 11th. City’s payout ratio is currently 45.95%.
In other news, CFO David L. Bumgarner sold 1,000 shares of City 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 sale, the chief financial officer now directly owns 10,965 shares in the company, valued at approximately $800,445. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.88% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in CHCO. JPMorgan Chase & Co. lifted its holdings in shares of City by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock valued at $32,797,000 after buying an additional 106,203 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of City by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock valued at $96,778,000 after buying an additional 57,001 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of City during the 2nd quarter valued at about $2,178,000. WBI Investments Inc. acquired a new stake in shares of City during the 2nd quarter valued at about $1,491,000. Finally, Walthausen & Co. LLC lifted its holdings in shares of City by 14.1% during the 3rd quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock valued at $12,742,000 after buying an additional 21,850 shares during the last quarter. Institutional investors and hedge funds own 64.97% of the company’s stock.
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City Company Profile
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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