City Holding Company (NASDAQ:CHCO) Given Average Rating of "Hold" by Brokerages

Key Points

• City Holding Company (NASDAQ: CHCO) has received an average rating of "Hold" from five analysts, with a 12-month price target of $133.25.
• The company reported earnings of $2.29 per share for the last quarter, exceeding the consensus estimate of $1.97.
• City has announced an increase in its quarterly dividend to $0.87 per share, set to be paid on October 31st, up from its previous dividend of $0.79.

Shares of City Holding Company (NASDAQ:CHCO - Get Free Report) have received an average recommendation of "Hold" from the five analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $133.25.

Several equities research analysts have issued reports on CHCO shares. DA Davidson boosted their price objective on shares of City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Hovde Group boosted their target price on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Zacks Research cut shares of City from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of City from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

City Price Performance

CHCO opened at $123.20 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. City has a 52-week low of $102.22 and a 52-week high of $137.28. The company has a 50 day moving average of $125.45 and a two-hundred day moving average of $120.79. The company has a market cap of $1.79 billion, a P/E ratio of 14.83 and a beta of 0.57.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.32. City had a net margin of 31.35% and a return on equity of 16.30%. The company had revenue of $78.16 million during the quarter, compared to the consensus estimate of $76.10 million. On average, analysts expect that City will post 7.58 earnings per share for the current year.

City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This is an increase from City's previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City's dividend payout ratio is presently 38.03%.

Insiders Place Their Bets

In other news, EVP Jeffrey Dale Legge sold 2,500 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total transaction of $327,650.00. Following the transaction, the executive vice president directly owned 7,037 shares of the company's stock, valued at approximately $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total transaction of $131,120.00. Following the completion of the sale, the executive vice president directly owned 1,830 shares in the company, valued at $239,949.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 305 shares of company stock worth $38,750. Corporate insiders own 1.87% of the company's stock.

Institutional Trading of City

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in City by 1.0% in the second quarter. State Street Corp now owns 639,166 shares of the bank's stock valued at $78,247,000 after acquiring an additional 6,371 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in City by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock valued at $74,192,000 after acquiring an additional 123,394 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in City by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock valued at $68,139,000 after acquiring an additional 29,302 shares in the last quarter. City Holding Co. raised its holdings in City by 3.0% in the second quarter. City Holding Co. now owns 263,664 shares of the bank's stock valued at $32,278,000 after acquiring an additional 7,636 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in City by 0.4% in the second quarter. Axxcess Wealth Management LLC now owns 109,751 shares of the bank's stock valued at $13,436,000 after acquiring an additional 485 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

About City

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

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