Zacks: Analysts Expect City Holding Company (NASDAQ:CHCO) to Announce $0.84 EPS
Equities analysts predict that City Holding Company (NASDAQ:CHCO) will post earnings per share of $0.84 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for City Holding’s earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.86. City Holding reported earnings per share of $0.83 in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that City Holding will report full-year earnings of $3.55 per share for the current financial year, with EPS estimates ranging from $3.40 to $3.69. For the next fiscal year, analysts forecast that the business will post earnings of $3.66 per share, with EPS estimates ranging from $3.62 to $3.70. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow City Holding.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, April 24th. The bank reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.18. City Holding had a return on equity of 12.60% and a net margin of 28.38%. The firm had revenue of $48.95 million during the quarter, compared to the consensus estimate of $46.99 million. During the same period in the prior year, the company earned $0.78 EPS.
CHCO has been the subject of several research reports. Zacks Investment Research raised City Holding from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday, June 26th. ValuEngine raised City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $65.00 price objective on City Holding and gave the stock a “hold” rating in a report on Monday, April 10th. Finally, BidaskClub raised City Holding from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.33.
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City Holding (NASDAQ:CHCO) traded up 0.25% on Monday, reaching $65.37. The company had a trading volume of 6,504 shares. The company has a market capitalization of $1.02 billion, a PE ratio of 17.61 and a beta of 0.84. City Holding has a 52-week low of $46.10 and a 52-week high of $74.90. The company’s 50-day moving average is $65.49 and its 200-day moving average is $65.96.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be issued a $0.44 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.70%. City Holding’s dividend payout ratio (DPR) is 47.31%.
In other news, EVP John A. Derito sold 2,688 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.85, for a total value of $168,940.80. Following the completion of the transaction, the executive vice president now directly owns 22,844 shares of the company’s stock, valued at $1,435,745.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig G. Stilwell sold 7,931 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $64.85, for a total value of $514,325.35. Following the completion of the transaction, the executive vice president now directly owns 26,865 shares of the company’s stock, valued at $1,742,195.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,687 shares of company stock valued at $1,665,964. Insiders own 3.88% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in City Holding during the fourth quarter valued at approximately $961,000. Comerica Bank raised its position in City Holding 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 last quarter. State Street Corp raised its position in City Holding by 8.7% in the fourth quarter. State Street Corp now owns 427,696 shares of the bank’s stock valued at $28,915,000 after buying an additional 34,302 shares during the last quarter. Dimensional Fund Advisors LP raised its position in City Holding 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 last quarter. Finally, Guggenheim Capital LLC raised its position in City Holding by 69.5% in the fourth quarter. Guggenheim Capital LLC now owns 58,957 shares of the bank’s stock valued at $3,985,000 after buying an additional 24,169 shares during the last quarter. Hedge funds and other institutional investors own 62.41% of the company’s stock.
About City Holding
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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