City Holding (NASDAQ:CHCO) Expected to Post Earnings of $1.23 Per Share

Wall Street analysts forecast that City Holding (NASDAQ:CHCOGet Rating) will report earnings of $1.23 per share for the current quarter, according to Zacks. Two analysts have issued estimates for City’s earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.19. City posted earnings of $1.25 per share in the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that City will report full year earnings of $5.20 per share for the current year, with EPS estimates ranging from $5.15 to $5.25. For the next financial year, analysts expect that the firm will post earnings of $5.61 per share, with EPS estimates ranging from $5.45 to $5.82. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for City.

City (NASDAQ:CHCOGet Rating) last released its quarterly earnings data on Tuesday, January 25th. The bank reported $1.54 earnings per share for the quarter, beating the consensus estimate 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 research firms recently commented on CHCO. StockNews.com began 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 target on the stock in a research report on Thursday, March 31st.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. raised its position in shares of City by 0.9% in the 3rd quarter. Macquarie Group Ltd. now owns 564,893 shares of the bank’s stock valued at $44,011,000 after purchasing an additional 5,201 shares in the last quarter. City Holding Co. raised its position in shares of City by 1.0% in the 1st quarter. City Holding Co. now owns 294,379 shares of the bank’s stock valued at $23,168,000 after purchasing an additional 2,808 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of City by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 292,582 shares of the bank’s stock valued at $23,930,000 after purchasing an additional 11,373 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of City by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 255,649 shares of the bank’s stock valued at $19,918,000 after purchasing an additional 3,345 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of City in the 4th quarter valued at approximately $9,595,000. 64.13% of the stock is currently owned by institutional investors.

NASDAQ CHCO opened at $76.31 on Thursday. The business’s 50-day simple moving average is $78.44 and its 200-day simple moving average is $79.97. The firm has a market capitalization of $1.15 billion, a P/E ratio of 13.46 and a beta of 0.59. City has a 1-year low of $71.61 and a 1-year high of $86.30.

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

About City (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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Earnings History and Estimates for City (NASDAQ:CHCO)

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