City Holding Company (NASDAQ:CHCO) Receives Average Rating of “Hold” from Brokerages

City Holding Company (NASDAQ:CHCO) has received a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $133.25.

Several equities research analysts have issued reports on CHCO shares. Zacks Research lowered shares of City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Piper Sandler assumed coverage on City in a report on Wednesday, December 3rd. They set a “neutral” rating and a $125.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of City in a report on Wednesday, October 8th.

Insider Buying and Selling at City

In related news, CEO Charles R. Hageboeck sold 2,017 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the completion of the sale, the chief executive officer owned 50,359 shares in the company, valued at $6,077,324.12. This trade represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 416 shares of company stock valued at $48,768. 1.87% of the stock is currently owned by corporate insiders.

Institutional Trading of City

Large investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its holdings in shares of City by 3.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 12,267 shares of the bank’s stock worth $1,521,000 after acquiring an additional 415 shares in the last quarter. Caxton Associates LLP acquired a new position in City in the third quarter worth $227,000. Dark Forest Capital Management LP grew its holdings in shares of City by 12.8% during the third quarter. Dark Forest Capital Management LP now owns 21,657 shares of the bank’s stock worth $2,683,000 after purchasing an additional 2,450 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of City by 110.2% during the third quarter. Verition Fund Management LLC now owns 4,255 shares of the bank’s stock worth $527,000 after purchasing an additional 2,231 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of City in the third quarter valued at $32,000. 72.43% of the stock is owned by institutional investors.

City Stock Up 0.5%

CHCO stock opened at $122.83 on Tuesday. City has a twelve month low of $102.22 and a twelve month high of $133.59. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.77 billion, a PE ratio of 14.12 and a beta of 0.52. The business’s 50-day simple moving average is $120.85 and its 200 day simple moving average is $122.56.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.26. The company had revenue of $61.29 million for the quarter, compared to analyst estimates of $80.17 million. City had a return on equity of 16.66% and a net margin of 32.33%. On average, research analysts anticipate that City will post 7.58 earnings per share for the current year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is presently 40.00%.

City Company Profile

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.