City Holding (CHCO) Given Consensus Recommendation of “Buy” by Brokerages

City Holding (NASDAQ:CHCO) has earned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $80.00.

A number of analysts have issued reports on the company. BidaskClub raised City from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Friday, November 30th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of City in a report on Thursday, January 24th.

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In other news, CEO Charles R. Hageboeck sold 1,593 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $79.50, for a total value of $126,643.50. Following the completion of the sale, the chief executive officer now directly owns 57,121 shares of the company’s stock, valued at approximately $4,541,119.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 4,154 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $79.77, for a total value of $331,364.58. Following the completion of the sale, the chief executive officer now directly owns 60,405 shares of the company’s stock, valued at $4,818,506.85. The disclosure for this sale can be found here. Insiders have sold a total of 6,565 shares of company stock valued at $522,916 over the last ninety days. 3.83% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of CHCO. BlackRock Inc. lifted its holdings in shares of City by 6.3% in the 4th quarter. BlackRock Inc. now owns 2,359,912 shares of the bank’s stock valued at $159,507,000 after purchasing an additional 139,779 shares during the last quarter. Norges Bank purchased a new stake in shares of City in the 4th quarter valued at about $9,173,000. Walthausen & Co. LLC purchased a new stake in shares of City in the 3rd quarter valued at about $10,223,000. Macquarie Group Ltd. lifted its holdings in shares of City by 25.6% in the 3rd quarter. Macquarie Group Ltd. now owns 470,684 shares of the bank’s stock valued at $36,149,000 after purchasing an additional 95,894 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after purchasing an additional 36,829 shares during the last quarter. 69.65% of the stock is owned by institutional investors and hedge funds.

CHCO opened at $75.33 on Friday. City has a 12 month low of $65.32 and a 12 month high of $83.27. The firm has a market cap of $1.22 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.87 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.11. The company had revenue of $51.14 million during the quarter, compared to the consensus estimate of $52.88 million. City had a return on equity of 15.23% and a net margin of 31.15%. As a group, research analysts forecast that City will post 5.33 EPS for the current fiscal year.

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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