City Holding Company (NASDAQ:CHCO) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• City Holding Company received a consensus analyst rating of "Hold" from six covering firms, with an average 1-year price target of $134.25. Five analysts rate it Hold and one rates it Buy.
• The bank beat quarterly earnings expectations, posting EPS of $2.20 versus the $2.17 consensus, while revenue came in line at $79.25 million. Analysts currently expect full-year EPS of $8.99.
• City also announced a 1 million share buyback and recently paid a $0.87 quarterly dividend, equal to an annualized yield of 2.8%. Recent insider sales by the CFO and CEO were disclosed, though institutional ownership remains high at 72.43%.

City Holding Company (NASDAQ:CHCO - Get Free Report) has been assigned an average rating of "Hold" from the six ratings firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $134.25.

CHCO has been the topic of a number of analyst reports. Hovde Group lifted their target price on shares of City from $133.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. Piper Sandler raised their price target on City from $125.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, January 23rd.

City Trading Down 0.2%

Shares of CHCO stock opened at $122.73 on Friday. City has a 1 year low of $113.21 and a 1 year high of $133.59. The firm has a fifty day moving average price of $121.97 and a 200-day moving average price of $122.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.83. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 13.52 and a beta of 0.50.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The firm had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. As a group, equities analysts predict that City will post 8.99 earnings per share for the current year.

City declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 25th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, April 15th. City's payout ratio is presently 38.33%.

Insider Activity

In other news, CFO David L. Bumgarner sold 402 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $125.00, for a total value of $50,250.00. Following the transaction, the chief financial officer directly owned 12,632 shares in the company, valued at $1,579,000. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 5,855 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total value of $733,631.50. Following the completion of the transaction, the chief executive officer owned 50,341 shares in the company, valued at $6,307,727.30. The trade was a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 908 shares of company stock worth $108,939 and have sold 9,117 shares worth $1,143,121. Company insiders own 1.75% of the company's stock.

Institutional Trading of City

Several hedge funds have recently bought and sold shares of CHCO. Royal Bank of Canada lifted its stake in City by 5.6% in the 1st quarter. Royal Bank of Canada now owns 15,586 shares of the bank's stock worth $1,831,000 after purchasing an additional 821 shares in the last quarter. AQR Capital Management LLC lifted its stake in City by 34.5% in the 1st quarter. AQR Capital Management LLC now owns 8,977 shares of the bank's stock worth $1,055,000 after purchasing an additional 2,305 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in City by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank's stock worth $1,014,000 after purchasing an additional 387 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in City in the 1st quarter worth $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in City by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank's stock worth $4,497,000 after purchasing an additional 2,603 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.

About City

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.