City Holding Company (CHCO) Lifted to Sell at BidaskClub
BidaskClub upgraded shares of City Holding Company (NASDAQ:CHCO) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday morning.
Several other brokerages have also weighed in on CHCO. ValuEngine raised City Holding from a hold rating to a buy rating in a research report on Friday, June 2nd. Zacks Investment Research raised City Holding from a hold rating to a strong-buy rating and set a $78.00 target price on the stock in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $70.33.
Shares of City Holding (CHCO) traded up 0.87% during mid-day trading on Wednesday, hitting $64.70. The stock had a trading volume of 136,042 shares. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 16.93 and a beta of 0.85. City Holding has a one year low of $48.40 and a one year high of $74.90. The company has a 50-day moving average of $63.14 and a 200 day moving average of $65.14.
City Holding (NASDAQ:CHCO) last issued its earnings results on Monday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The company had revenue of $46.18 million for the quarter, compared to analyst estimates of $46.45 million. During the same period in the prior year, the firm posted $0.83 EPS. On average, equities research analysts forecast that City Holding will post $3.87 earnings per share for the current year.
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In other news, CEO Charles R. Hageboeck sold 2,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $62.78, for a total transaction of $125,560.00. Following the transaction, the chief executive officer now owns 72,984 shares of the company’s stock, valued at approximately $4,581,935.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey Dale Legge sold 899 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total value of $60,727.45. Following the transaction, the chief accounting officer now directly owns 7,151 shares in the company, valued at approximately $483,050.05. The disclosure for this sale can be found here. Corporate insiders own 3.88% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of City Holding during the 1st quarter valued at about $108,000. State of Alaska Department of Revenue increased its holdings in shares of City Holding by 6.2% during the 1st quarter. State of Alaska Department of Revenue now owns 1,720 shares of the bank’s stock valued at $110,000 after acquiring an additional 100 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of City Holding during the 1st quarter valued at about $167,000. Miles Capital Inc. increased its holdings in shares of City Holding by 0.3% during the 1st quarter. Miles Capital Inc. now owns 3,262 shares of the bank’s stock valued at $210,000 after acquiring an additional 10 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of City Holding during the 2nd quarter valued at about $222,000. 62.53% of the stock is currently owned by institutional investors and hedge funds.
City Holding Company Profile
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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