Zacks: Brokerages Expect City Holding (NASDAQ:CHCO) Will Post Quarterly Sales of $54.82 Million

Wall Street analysts predict that City Holding (NASDAQ:CHCO – Get Rating) will announce sales of $54.82 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for City’s earnings, with the lowest sales estimate coming in at $54.38 million and the highest estimate coming in at $55.25 million. City posted sales of $54.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The firm is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that City will report full year sales of $223.85 million for the current fiscal year, with estimates ranging from $223.09 million to $224.61 million. For the next financial year, analysts expect that the firm will report sales of $236.94 million, with estimates ranging from $235.10 million to $238.78 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover City.

City (NASDAQ:CHCO – Get Rating) last issued its quarterly earnings data on Tuesday, January 25th. The bank reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.23. The business had revenue of $58.57 million for the quarter, compared to analyst estimates of $56.60 million. City had a return on equity of 12.77% and a net margin of 37.29%.

Several equities research analysts recently commented on the company. StockNews.com started coverage on City in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Thursday, March 31st.

Institutional investors have recently modified their holdings of the company. Kenfarb & CO. purchased a new stake in shares of City in the fourth quarter worth approximately $25,000. KBC Group NV purchased a new stake in shares of City in the third quarter worth approximately $30,000. Dixon Hughes Goodman Wealth Advisors LLC raised its stake in shares of City by 300.0% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 400 shares of the bank’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of City by 41.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 562 shares of the bank’s stock worth $46,000 after purchasing an additional 164 shares during the last quarter. Finally, US Asset Management LLC purchased a new stake in shares of City during the third quarter valued at approximately $129,000. 64.13% of the stock is owned by hedge funds and other institutional investors.

NASDAQ CHCO opened at $76.31 on Friday. The business’s 50-day moving average price is $78.44 and its two-hundred day moving average price is $79.96. City has a 12 month low of $71.61 and a 12 month high of $86.30. The firm has a market capitalization of $1.15 billion, a PE ratio of 13.46 and a beta of 0.59.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Friday, April 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, April 13th. City’s dividend payout ratio (DPR) is presently 42.33%.

City Company Profile (Get Rating)

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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