City (NASDAQ:CHCO) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
A number of other equities research analysts also recently weighed in on CHCO. Zacks Investment Research raised shares of City from a “hold” rating to a “strong-buy” rating and set a $83.00 target price on the stock in a research note on Monday, January 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of City in a research note on Thursday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $80.00.
Shares of City stock opened at $71.95 on Friday. City has a 12-month low of $65.32 and a 12-month high of $83.27. The stock has a market capitalization of $1.19 billion, a PE ratio of 13.94, a PEG ratio of 1.69 and a beta of 0.76. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.07.
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 analysts’ consensus estimates of $1.24 by $0.11. City had a net margin of 31.15% and a return on equity of 15.26%. The firm had revenue of $51.14 million for the quarter, compared to the consensus estimate of $52.88 million. On average, analysts anticipate that City will post 5.33 earnings per share for the current year.
In related news, EVP Craig G. Stilwell sold 818 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $79.35, for a total value of $64,908.30. Following the sale, the executive vice president now directly owns 23,124 shares of the company’s stock, valued at $1,834,889.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 4,154 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $79.77, for a total transaction of $331,364.58. Following the completion of the sale, the chief executive officer now directly owns 60,405 shares in the company, valued at $4,818,506.85. The disclosure for this sale can be found here. Insiders sold 6,565 shares of company stock worth $522,916 over the last ninety days. 3.83% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CHCO. Quantamental Technologies LLC purchased a new position in shares of City during the fourth quarter worth approximately $57,000. LS Investment Advisors LLC raised its stake in shares of City by 183.5% during the fourth quarter. LS Investment Advisors LLC now owns 1,273 shares of the bank’s stock worth $86,000 after acquiring an additional 824 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of City during the fourth quarter worth approximately $185,000. Crossmark Global Holdings Inc. raised its stake in shares of City by 10.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 3,073 shares of the bank’s stock worth $208,000 after acquiring an additional 290 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new position in shares of City during the fourth quarter worth approximately $211,000. 65.73% of the stock is currently owned by institutional investors and hedge funds.
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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