City Holding (NASDAQ:CHCO) Forecasted to Earn Q2 2024 Earnings of $1.87 Per Share

City Holding (NASDAQ:CHCO - Free Report) - Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of City in a note issued to investors on Wednesday, May 8th. DA Davidson analyst M. Navas expects that the bank will earn $1.87 per share for the quarter. The consensus estimate for City's current full-year earnings is $7.59 per share. DA Davidson also issued estimates for City's FY2025 earnings at $7.30 EPS.

Several other analysts have also issued reports on CHCO. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $110.00 price target (up from $100.00) on shares of City in a research report on Thursday, April 25th. Stephens cut their target price on shares of City from $100.00 to $99.00 and set an "equal weight" rating for the company in a research note on Thursday, April 25th. Piper Sandler upped their price target on shares of City from $103.00 to $105.00 and gave the company a "neutral" rating in a research note on Thursday, February 1st. Finally, Hovde Group raised their price objective on shares of City from $110.00 to $113.00 and gave the stock a "market perform" rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $106.75.

City Stock Up 0.1 %

CHCO stock traded up $0.07 during mid-day trading on Friday, reaching $105.93. The company had a trading volume of 37,955 shares, compared to its average volume of 60,627. City has a 52 week low of $82.53 and a 52 week high of $115.89. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 13.32 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $102.45 and a two-hundred day simple moving average of $102.02.

City Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, April 12th. City's dividend payout ratio (DPR) is currently 35.97%.

Insiders Place Their Bets

In other news, EVP John A. Derito sold 1,309 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares in the company, valued at approximately $2,897,775. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other City news, EVP Michael T. Quinlan, Jr. sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $105.60, for a total value of $84,480.00. Following the sale, the executive vice president now owns 2,600 shares in the company, valued at $274,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Derito sold 1,309 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the sale, the executive vice president now directly owns 28,620 shares in the company, valued at approximately $2,897,775. The disclosure for this sale can be found here. Insiders have sold a total of 16,780 shares of company stock worth $1,718,766 in the last 90 days. Company insiders own 2.45% of the company's stock.

Hedge Funds Weigh In On City

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of City in the 4th quarter worth approximately $10,953,000. Axxcess Wealth Management LLC grew its position in shares of City by 577.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank's stock worth $11,938,000 after buying an additional 92,276 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of City by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank's stock valued at $35,940,000 after acquiring an additional 16,123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of City during the 1st quarter valued at $1,133,000. Finally, McKinley Carter Wealth Services Inc. boosted its stake in City by 215.1% during the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank's stock worth $1,682,000 after acquiring an additional 11,019 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

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.