Brokerages expect City Holding (NASDAQ:CHCO) to post $46.99 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for City’s earnings. The highest sales estimate is $47.52 million and the lowest is $46.46 million. City reported sales of $48.95 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4%. The company is expected to report its next earnings results on Monday, April 23rd.
According to Zacks, analysts expect that City will report full-year sales of $46.99 million for the current fiscal year, with estimates ranging from $194.11 million to $196.16 million. For the next financial year, analysts forecast that the firm will post sales of $204.91 million per share, with estimates ranging from $204.84 million to $204.97 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow City.
City (NASDAQ:CHCO) last released its earnings results on Tuesday, January 23rd. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11. The business had revenue of $47.96 million for the quarter, compared to the consensus estimate of $47.43 million. City had a return on equity of 12.40% and a net margin of 26.25%.
Several equities analysts have recently weighed in on CHCO shares. BidaskClub downgraded City from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 9th. Sandler O’Neill set a $72.00 target price on City and gave the company a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded City from a “sell” rating to a “hold” rating and set a $78.00 target price on the stock in a research report on Friday, December 22nd. Finally, Boenning Scattergood restated a “hold” rating on shares of City in a research report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $71.67.
In related news, CEO Charles R. Hageboeck sold 5,114 shares of City stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $68.29, for a total transaction of $349,235.06. Following the transaction, the chief executive officer now owns 70,863 shares in the company, valued at $4,839,234.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.88% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CHCO. Lbmc Investment Advisors LLC purchased a new position in City during the fourth quarter worth approximately $202,000. Xact Kapitalforvaltning AB purchased a new position in City during the fourth quarter worth approximately $213,000. McKinley Carter Wealth Services Inc. purchased a new position in City during the fourth quarter worth approximately $225,000. Crossmark Global Holdings Inc. purchased a new position in City during the third quarter worth approximately $248,000. Finally, Asset Management One Co. Ltd. purchased a new position in City during the third quarter worth approximately $315,000. Hedge funds and other institutional investors own 65.58% of the company’s stock.
City (NASDAQ:CHCO) opened at $72.26 on Friday. The firm has a market capitalization of $1,120.68, a P/E ratio of 18.29, a PEG ratio of 2.02 and a beta of 0.77. City has a 1 year low of $58.80 and a 1 year high of $74.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91.
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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