City Holding Company (NASDAQ:CHCO) Receives Average Rating of “Hold” from Analysts

Shares of City Holding Company (NASDAQ:CHCO) have been assigned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $134.50.

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Piper Sandler raised their target price on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd.

City Stock Down 0.6%

CHCO stock opened at $120.65 on Wednesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 13.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.82. City has a 1-year low of $102.22 and a 1-year high of $133.59. The business has a fifty day moving average price of $122.72 and a 200-day moving average price of $123.22.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The business had revenue of $60.83 million for the quarter, compared to analysts’ expectations of $81.38 million. Equities analysts forecast that City will post 7.58 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, January 15th. City’s dividend payout ratio is 38.93%.

Insiders Place Their Bets

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was 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 approximately $6,077,324.12. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.87% of the company’s stock.

Hedge Funds Weigh In On City

Several institutional investors have recently made changes to their positions in CHCO. First Citizens Bank & Trust Co. bought a new stake in City during the 2nd quarter worth approximately $414,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of City in the second quarter worth $406,000. State of Alaska Department of Revenue raised its position in shares of City by 5.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,606 shares of the bank’s stock valued at $1,053,000 after purchasing an additional 459 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of City during the 2nd quarter valued at $903,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in City by 1.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 21,694 shares of the bank’s stock worth $2,656,000 after buying an additional 324 shares during the period. Institutional investors own 72.43% of the company’s stock.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.