City (NASDAQ:CHCO) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday, September 13th.
A number of other equities research analysts have also weighed in on CHCO. Zacks Investment Research upgraded City from a “hold” rating to a “strong-buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, July 24th. ValuEngine upgraded City from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of City in a research report on Thursday, July 26th. Finally, DA Davidson set a $77.00 target price on City and gave the company a “buy” rating in a research report on Friday, July 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.67.
Shares of CHCO stock traded up $0.63 on Thursday, hitting $76.64. The stock had a trading volume of 25,900 shares, compared to its average volume of 56,749. The company has a market capitalization of $1.19 billion, a P/E ratio of 19.45, a PEG ratio of 1.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. City has a one year low of $64.32 and a one year high of $83.27.
City (NASDAQ:CHCO) last announced its earnings results on Thursday, July 26th. The bank reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.22. The business had revenue of $49.18 million during the quarter, compared to the consensus estimate of $48.59 million. City had a net margin of 29.49% and a return on equity of 13.85%. On average, analysts anticipate that City will post 4.88 earnings per share for the current fiscal year.
In other news, CAO Jeffrey Dale Legge sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $80.78, for a total transaction of $26,253.50. Following the completion of the transaction, the chief accounting officer now directly owns 5,927 shares of the company’s stock, valued at approximately $478,783.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles R. Hageboeck sold 3,986 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $81.00, for a total value of $322,866.00. Following the completion of the transaction, the chief executive officer now directly owns 65,959 shares of the company’s stock, valued at $5,342,679. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,156 shares of company stock worth $748,892. Insiders own 3.83% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its stake in City by 79.1% in the 1st quarter. UBS Group AG now owns 1,734 shares of the bank’s stock valued at $119,000 after purchasing an additional 766 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in City in the 2nd quarter valued at $233,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in City in the 2nd quarter valued at $246,000. WINTON GROUP Ltd purchased a new stake in City in the 1st quarter valued at $233,000. Finally, SG Americas Securities LLC purchased a new stake in City in the 2nd quarter valued at $258,000. 66.86% of the stock is owned by hedge funds and other institutional investors.
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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