City Holding Company (CHCO) Raised to Buy at Zacks Investment Research
City Holding Company (NASDAQ:CHCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $75.00 target price on the bank’s stock. Zacks Investment Research’s price target points to a potential upside of 11.16% from the company’s previous close.
According to Zacks, “City Holding Company is a multi-bank holding company that provides diversified financial products and services to consumers and local businesses. “
A number of other research analysts have also recently weighed in on CHCO. DA Davidson initiated coverage on shares of City Holding Company in a report on Monday, March 6th. They issued a “neutral” rating and a $68.00 price objective for the company. Keefe, Bruyette & Woods set a $65.00 price objective on shares of City Holding Company and gave the company a “hold” rating in a report on Monday, April 10th.
Shares of City Holding Company (NASDAQ:CHCO) traded up 0.94% during midday trading on Friday, reaching $67.47. 57,763 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $64.02 and its 200 day moving average is $61.92. City Holding Company has a one year low of $42.98 and a one year high of $69.09. The firm has a market cap of $1.05 billion, a PE ratio of 19.56 and a beta of 0.81.
City Holding Company (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, January 19th. The bank reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.10. City Holding Company had a net margin of 27.20% and a return on equity of 12.16%. The company earned $44.75 million during the quarter, compared to analysts’ expectations of $44.86 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. Analysts anticipate that City Holding Company will post $3.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be issued a $0.44 dividend. This is a boost from City Holding Company’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 2.61%. City Holding Company’s payout ratio is presently 49.71%.
Several hedge funds have recently made changes to their positions in the stock. Comerica Bank raised its stake in shares of City Holding Company by 5.7% in the fourth quarter. Comerica Bank now owns 15,936 shares of the bank’s stock valued at $1,047,000 after buying an additional 853 shares during the period. BlackRock Fund Advisors raised its stake in shares of City Holding Company by 6.6% in the third quarter. BlackRock Fund Advisors now owns 1,008,871 shares of the bank’s stock valued at $50,736,000 after buying an additional 62,519 shares during the period. AQR Capital Management LLC raised its stake in shares of City Holding Company by 31.7% in the fourth quarter. AQR Capital Management LLC now owns 40,129 shares of the bank’s stock valued at $2,713,000 after buying an additional 9,665 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of City Holding Company by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 692,703 shares of the bank’s stock valued at $46,827,000 after buying an additional 8,745 shares during the period. Finally, Capital One National Association raised its stake in shares of City Holding Company by 2.0% in the third quarter. Capital One National Association now owns 11,134 shares of the bank’s stock valued at $560,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 61.13% of the company’s stock.
About City Holding Company
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.
Receive News & Stock Ratings for City Holding Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Holding Company and related stocks with our FREE daily email newsletter.