City Holding (NASDAQ:CHCO) Expected to Post Quarterly Sales of $58.19 Million
Analysts forecast that City Holding (NASDAQ:CHCO) will post $58.19 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for City’s earnings, with the highest sales estimate coming in at $58.50 million and the lowest estimate coming in at $57.88 million. City posted sales of $51.31 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.4%. The company is scheduled to announce its next earnings results on Monday, October 28th.
According to Zacks, analysts expect that City will report full-year sales of $230.54 million for the current financial year, with estimates ranging from $229.41 million to $231.66 million. For the next year, analysts expect that the firm will post sales of $239.19 million, with estimates ranging from $236.31 million to $242.07 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow City.
City (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $58.74 million during the quarter, compared to analyst estimates of $57.24 million. City had a net margin of 30.14% and a return on equity of 14.52%.
Shares of NASDAQ:CHCO traded down $2.38 during trading on Friday, reaching $73.21. The stock had a trading volume of 47,270 shares, compared to its average volume of 62,812. The business has a fifty day moving average price of $75.41 and a 200-day moving average price of $76.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.24 billion, a P/E ratio of 14.19, a PEG ratio of 1.76 and a beta of 0.76. City has a fifty-two week low of $65.32 and a fifty-two week high of $83.04.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, July 12th. City’s dividend payout ratio (DPR) is 41.09%.
In related news, EVP Craig G. Stilwell sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $74.92, for a total transaction of $202,284.00. Following the completion of the transaction, the executive vice president now owns 15,696 shares of the company’s stock, valued at $1,175,944.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $76.65, for a total transaction of $76,650.00. Following the transaction, the chief financial officer now directly owns 8,936 shares of the company’s stock, valued at approximately $684,944.40. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of City by 35.5% during the second quarter. Royal Bank of Canada now owns 68,865 shares of the bank’s stock worth $5,251,000 after purchasing an additional 18,050 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of City by 3.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,193 shares of the bank’s stock worth $320,000 after purchasing an additional 152 shares during the period. Schroder Investment Management Group raised its holdings in shares of City by 51.6% during the second quarter. Schroder Investment Management Group now owns 14,400 shares of the bank’s stock worth $1,098,000 after purchasing an additional 4,902 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of City during the second quarter worth $4,641,000. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of City by 81.7% during the second quarter. UBS Asset Management Americas Inc. now owns 12,764 shares of the bank’s stock worth $973,000 after purchasing an additional 5,739 shares during the period. 67.54% of the stock is owned by hedge funds and other institutional investors.
City Company Profile
City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. The company accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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