City Holding Company to Post Q3 2018 Earnings of $0.96 Per Share, DA Davidson Forecasts (CHCO)
City Holding Company (NASDAQ:CHCO) – Analysts at DA Davidson upped their Q3 2018 EPS estimates for shares of City Holding in a research note issued to investors on Wednesday. DA Davidson analyst R. Gunther now anticipates that the bank will post earnings per share of $0.96 for the quarter, up from their prior forecast of $0.95. DA Davidson also issued estimates for City Holding’s Q1 2019 earnings at $0.93 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.01 EPS and FY2019 earnings at $4.00 EPS.
City Holding (NASDAQ:CHCO) last released its earnings results on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. City Holding had a net margin of 29.25% and a return on equity of 12.34%. The firm had revenue of $45.90 million for the quarter, compared to the consensus estimate of $47.18 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This piece was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/city-holding-company-to-post-q3-2018-earnings-of-0-96-per-share-da-davidson-forecasts-chco/1645699.html.
A number of other research firms have also recently issued reports on CHCO. BidaskClub raised shares of City Holding from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Zacks Investment Research cut shares of City Holding from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. City Holding has an average rating of “Hold” and a consensus target price of $70.33.
City Holding (CHCO) traded up 0.74% during trading on Friday, hitting $71.73. 64,842 shares of the stock traded hands. City Holding has a 52-week low of $50.22 and a 52-week high of $74.90. The stock has a 50 day moving average price of $68.88 and a 200-day moving average price of $66.32. The stock has a market cap of $1.12 billion, a P/E ratio of 18.77 and a beta of 0.86.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a $0.44 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.76 dividend on an annualized basis and a yield of 2.45%. City Holding’s dividend payout ratio is currently 45.83%.
In other City Holding news, CAO Jeffrey Dale Legge sold 899 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total value of $60,727.45. Following the transaction, the chief accounting officer now owns 7,151 shares in the company, valued at approximately $483,050.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 72,984 shares in the company, valued at approximately $4,581,935.52. The disclosure for this sale can be found here. Company insiders own 3.88% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in City Holding in the 1st quarter valued at $108,000. Victory Capital Management Inc. purchased a new position in City Holding in the 1st quarter valued at $167,000. State of Alaska Department of Revenue lifted its holdings in City Holding by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock valued at $202,000 after purchasing an additional 1,361 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in City Holding in the 2nd quarter valued at $222,000. Finally, Mason Street Advisors LLC lifted its holdings in City Holding by 11.1% in the 1st quarter. Mason Street Advisors LLC now owns 3,642 shares of the bank’s stock valued at $235,000 after purchasing an additional 363 shares in the last quarter. Institutional investors own 62.53% of the company’s stock.
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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