City Holding Company (CHCO) - What Are Brokerages Thinking About This Stock?

Key Points

• Analyst sentiment is moderately positive: Five analysts give City Holding a consensus “Moderate Buy” rating, with an average 12-month price target of $140.
• Quarterly results topped estimates: City reported EPS of $2.43 versus the $2.36 consensus and revenue of $84.04 million, above estimates of $83.07 million.
• The dividend increased: The quarterly payout rose from $0.87 to $1.00 per share, equivalent to $4.00 annually and a 2.8% yield.

Shares of City Holding Company (NASDAQ:CHCO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $140.00.

CHCO has been the topic of several research analyst reports. Weiss Ratings cut shares of City from a "buy (a)" rating to a "buy (a-)" rating in a report on Wednesday, November 4th. Hovde Group lifted their price objective on City from $135.00 to $143.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on City from $145.00 to $147.00 and gave the stock a "hold" rating in a research report on Tuesday, October 27th. Finally, Jefferies Financial Group assumed coverage on City in a research report on Tuesday. They set a "buy" rating for the company.

City Stock Performance

Shares of CHCO opened at $143.09 on Tuesday. City has a 52-week low of $113.21 and a 52-week high of $148.99. The stock's 50-day simple moving average is $142.17 and its 200 day simple moving average is $132.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 15.62 and a beta of 0.49.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Monday, October 26th. The bank reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.07. City had a return on equity of 16.22% and a net margin of 32.31%. The business had revenue of $84.04 million during the quarter, compared to analyst estimates of $83.07 million. Research analysts forecast that City will post 9.37 EPS for the current fiscal year.

City Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were given a dividend of $1.00 per share. This is a boost from City's previous quarterly dividend of $0.87. The ex-dividend date was Thursday, October 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. City's dividend payout ratio is 43.67%.

Insider Activity

In related news, Director Sharon H. Rowe sold 400 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total value of $57,584.00. Following the sale, the director directly owned 10,576 shares of the company's stock, valued at $1,522,520.96. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Legge sold 512 shares of City stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $145.30, for a total transaction of $74,393.60. Following the sale, the executive vice president owned 7,656 shares of the company's stock, valued at approximately $1,112,416.80. The trade was a 6.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought 480 shares of company stock valued at $68,222 in the last three months. 1.75% of the stock is owned by insiders.

Institutional Trading of City

Several institutional investors and hedge funds have recently made changes to their positions in CHCO. R Squared Ltd purchased a new stake in City during the third quarter valued at about $258,000. Maryland State Retirement & Pension System boosted its holdings in shares of City by 51.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 3,097 shares of the bank's stock worth $431,000 after purchasing an additional 1,050 shares in the last quarter. Heritage Family Offices LLP purchased a new position in shares of City in the 3rd quarter worth about $116,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of City in the 3rd quarter worth about $1,862,000. Finally, ProShare Advisors LLC increased its position in shares of City by 3,506.4% during the 3rd quarter. ProShare Advisors LLC now owns 72,597 shares of the bank's stock valued at $10,100,000 after purchasing an additional 70,584 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.

City Company Profile

City Holding Company NASDAQ: CHCO is a financial holding company headquartered in Charleston, West Virginia. Its principal subsidiary, City National Bank of West Virginia, provides banking and related financial services to individuals, businesses and organizations.

The bank offers deposit accounts, consumer and commercial lending, mortgage services, and online and mobile banking. It also provides wealth management, trust and investment services, and insurance through its affiliated businesses.

City National Bank was established in Charleston in 1957.

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