City Holding Expected to Earn Q2 2020 Earnings of $0.80 Per Share (NASDAQ:CHCO)
City Holding (NASDAQ:CHCO) – Analysts at Piper Sandler issued their Q2 2020 earnings per share estimates for City in a research report issued on Thursday, July 9th. Piper Sandler analyst C. Whitman expects that the bank will post earnings of $0.80 per share for the quarter. Piper Sandler currently has a “Neutral” rating and a $63.00 target price on the stock. Piper Sandler also issued estimates for City’s Q3 2020 earnings at $0.78 EPS, Q4 2020 earnings at $0.74 EPS, FY2020 earnings at $4.10 EPS, Q1 2021 earnings at $0.78 EPS, Q2 2021 earnings at $0.96 EPS, Q3 2021 earnings at $0.99 EPS, Q4 2021 earnings at $1.02 EPS and FY2021 earnings at $3.75 EPS.
City (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $0.91 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.20). The company had revenue of $73.76 million during the quarter, compared to analyst estimates of $72.19 million. City had a net margin of 33.89% and a return on equity of 14.58%.
NASDAQ CHCO opened at $62.61 on Monday. The company has a market cap of $994.93 million, a PE ratio of 10.61 and a beta of 0.61. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. City has a 12 month low of $53.06 and a 12 month high of $83.07. The stock has a 50 day moving average of $63.11 and a 200-day moving average of $68.79.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, July 14th. City’s dividend payout ratio is 41.76%.
In other news, Director Robert D. Fisher acquired 1,632 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $60.99 per share, for a total transaction of $99,535.68. Also, EVP Craig G. Stilwell sold 818 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $64.60, for a total value of $52,842.80. Following the transaction, the executive vice president now owns 16,339 shares in the company, valued at approximately $1,055,499.40. The disclosure for this sale can be found here. Company insiders own 3.42% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. bought a new position in City during the 1st quarter worth $25,000. Advisor Group Holdings Inc. bought a new position in shares of City in the first quarter worth $52,000. PNC Financial Services Group Inc. increased its position in shares of City by 24.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,160 shares of the bank’s stock worth $77,000 after purchasing an additional 230 shares during the period. SG Americas Securities LLC bought a new position in shares of City in the first quarter worth $192,000. Finally, Man Group plc bought a new position in shares of City in the fourth quarter worth $207,000. Hedge funds and other institutional investors own 67.62% of the company’s stock.
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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