BidaskClub Downgrades City Holding Company (CHCO) to Buy
City Holding Company (NASDAQ:CHCO) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Separately, Zacks Investment Research downgraded City Holding from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $70.33.
Shares of City Holding (CHCO) opened at 71.73 on Friday. City Holding has a 12-month low of $50.22 and a 12-month high of $74.90. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.77 and a beta of 0.86. The company’s 50-day moving average price is $68.88 and its 200 day moving average price is $66.32.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $47.18 million. City Holding had a return on equity of 12.34% and a net margin of 29.25%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. On average, equities research analysts forecast that City Holding will post $3.82 EPS for the current fiscal year.
In other City Holding news, CAO Jeffrey Dale Legge sold 899 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total transaction of $60,727.45. Following the completion of the sale, the chief accounting officer now directly owns 7,151 shares of the company’s stock, valued at approximately $483,050.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles R. Hageboeck sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $62.78, for a total value of $125,560.00. Following the sale, the chief executive officer now directly owns 72,984 shares of the company’s stock, valued at $4,581,935.52. The disclosure for this sale can be found here. 3.88% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in City Holding by 43,960.3% during the 1st quarter. BlackRock Inc. now owns 1,906,489 shares of the bank’s stock worth $122,929,000 after purchasing an additional 1,902,162 shares during the period. JPMorgan Chase & Co. increased its position in City Holding by 27.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock worth $32,797,000 after purchasing an additional 106,203 shares during the period. Vanguard Group Inc. increased its position in City Holding by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 1,412,228 shares of the bank’s stock worth $91,061,000 after purchasing an additional 61,429 shares during the period. State Street Corp increased its position in City Holding by 14.4% during the 1st quarter. State Street Corp now owns 489,105 shares of the bank’s stock worth $31,536,000 after purchasing an additional 61,409 shares during the period. Finally, Zacks Investment Management acquired a new position in City Holding during the 2nd quarter worth approximately $2,178,000. 62.53% of the stock is owned by hedge funds and other institutional investors.
About City Holding
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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