City Holding Company (NASDAQ:CHCO) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS
City Holding Company (NASDAQ:CHCO) issued its earnings results on Monday, July 24th. The bank reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.11, Bloomberg Earnings reports. The business had revenue of $46.18 million for the quarter, compared to the consensus estimate of $46.45 million. City Holding had a net margin of 29.07% and a return on equity of 12.62%. During the same period in the prior year, the firm earned $0.83 EPS.
City Holding (CHCO) traded up 0.80% during trading on Friday, hitting $60.42. 82,045 shares of the stock were exchanged. The stock has a market cap of $943.58 million, a P/E ratio of 15.81 and a beta of 0.84. The stock’s 50 day moving average price is $64.90 and its 200 day moving average price is $65.53. City Holding has a 12 month low of $48.40 and a 12 month high of $74.90.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.91%. City Holding’s dividend payout ratio is presently 45.95%.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, July 26th. BidaskClub downgraded shares of City Holding from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, ValuEngine upgraded shares of City Holding from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. City Holding presently has an average rating of “Hold” and an average price target of $70.33.
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In other City Holding news, EVP John A. Derito sold 2,688 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.85, for a total transaction of $168,940.80. Following the completion of the transaction, the executive vice president now owns 22,844 shares in the company, valued at approximately $1,435,745.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey Dale Legge sold 899 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total transaction of $60,727.45. Following the transaction, the chief accounting officer now owns 7,151 shares of the company’s stock, valued at approximately $483,050.05. The disclosure for this sale can be found here. Insiders have sold a total of 18,655 shares of company stock valued at $1,212,366 in the last quarter. 3.88% of the stock is currently owned by company insiders.
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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