City Holding Company (NASDAQ:CHCO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of City Holding Company (NASDAQ:CHCO) have been assigned a consensus rating of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $133.25.

CHCO has been the topic of a number of analyst reports. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Zacks Research lowered City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Piper Sandler started coverage on City in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $125.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a research report on Wednesday, October 8th.

City Price Performance

NASDAQ:CHCO opened at $124.98 on Tuesday. City has a 52 week low of $102.22 and a 52 week high of $133.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $121.00 and its 200 day simple moving average is $122.70. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 14.37 and a beta of 0.52.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.26. City had a net margin of 32.33% and a return on equity of 16.66%. The firm had revenue of $61.29 million during the quarter, compared to the consensus estimate of $80.17 million. As a group, sell-side analysts predict that City will post 7.58 earnings per share for the current year.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, January 15th. City’s dividend payout ratio is 40.00%.

Insider Transactions at City

In related news, CEO Charles R. Hageboeck sold 2,017 shares of City stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $120.68, for a total value of $243,411.56. Following the transaction, the chief executive officer directly owned 50,359 shares of the company’s stock, valued at $6,077,324.12. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased 416 shares of company stock valued at $48,768 over the last quarter. Company insiders own 1.87% of the company’s stock.

Hedge Funds Weigh In On City

Several hedge funds and other institutional investors have recently modified their holdings of CHCO. Quarry LP bought a new position in shares of City in the third quarter worth about $32,000. Geneos Wealth Management Inc. lifted its stake in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in City by 463.2% in the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $52,000 after buying an additional 352 shares in the last quarter. CWM LLC grew its stake in shares of City by 45.9% during the third quarter. CWM LLC now owns 467 shares of the bank’s stock worth $58,000 after buying an additional 147 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of City by 28.4% during the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after buying an additional 110 shares during 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.