Analysts Anticipate City Holding Company (CHCO) Will Announce Earnings of $0.96 Per Share
Wall Street analysts expect that City Holding Company (NASDAQ:CHCO) will post earnings of $0.96 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for City Holding’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.95. City Holding posted earnings per share of $0.97 in the same quarter last year, which would indicate a negative year-over-year growth rate of 1%. The business is scheduled to issue its next quarterly earnings report on Thursday, January 18th.
According to Zacks, analysts expect that City Holding will report full-year earnings of $3.84 per share for the current financial year, with EPS estimates ranging from $3.82 to $3.85. For the next financial year, analysts forecast that the company will post earnings of $3.80 per share. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for City Holding.
City Holding (NASDAQ:CHCO) last posted its earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. City Holding had a net margin of 29.25% and a return on equity of 12.34%. The company had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $47.18 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. City Holding’s quarterly revenue was up 1.1% compared to the same quarter last year.
A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of City Holding from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of City Holding from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $70.33.
In related news, CEO Charles R. Hageboeck sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $62.78, for a total value of $125,560.00. Following the completion of the transaction, the chief executive officer now owns 72,984 shares in the company, valued at approximately $4,581,935.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.88% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in City Holding during the 1st quarter worth $108,000. Victory Capital Management Inc. grew its holdings in City Holding by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,052 shares of the bank’s stock worth $201,000 after acquiring an additional 458 shares during the period. State of Alaska Department of Revenue grew its holdings in City Holding by 79.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock worth $202,000 after acquiring an additional 1,361 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in City Holding during the 2nd quarter worth $222,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in City Holding during the 3rd quarter worth $248,000. 62.48% of the stock is owned by hedge funds and other institutional investors.
City Holding (CHCO) traded down $1.13 during trading hours on Wednesday, hitting $66.53. 57,708 shares of the stock were exchanged, compared to its average volume of 70,042. City Holding has a 52 week low of $51.28 and a 52 week high of $74.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1,087.17, a PE ratio of 18.13, a P/E/G ratio of 1.81 and a beta of 0.85.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, October 12th. City Holding’s dividend payout ratio (DPR) is presently 45.83%.
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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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