ValuEngine Lowers City (NASDAQ:CHCO) to Sell

ValuEngine cut shares of City (NASDAQ:CHCO) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

A number of other analysts have also issued reports on CHCO. Stephens began coverage on shares of City in a research note on Monday, January 6th. They set an equal weight rating and a $83.50 target price for the company. Zacks Investment Research raised City from a sell rating to a hold rating in a research note on Friday, October 25th. Finally, BidaskClub cut City from a buy rating to a hold rating in a research note on Friday, December 27th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $82.17.

Shares of NASDAQ CHCO opened at $82.03 on Tuesday. City has a fifty-two week low of $69.15 and a fifty-two week high of $83.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 15.90 and a beta of 0.78. The business’s 50 day moving average price is $81.30 and its 200-day moving average price is $77.75.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.04. City had a return on equity of 13.96% and a net margin of 29.76%. The company had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.85 million. Sell-side analysts predict that City will post 5.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, January 14th. City’s dividend payout ratio (DPR) is presently 44.19%.

In related news, CEO Charles R. Hageboeck sold 1,709 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.83, for a total transaction of $138,138.47. Following the completion of the transaction, the chief executive officer now owns 50,800 shares in the company, valued at approximately $4,106,164. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 2,250 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.16, for a total transaction of $180,360.00. Following the sale, the chief executive officer now directly owns 52,509 shares of the company’s stock, valued at approximately $4,209,121.44. The disclosure for this sale can be found here. Insiders sold 4,459 shares of company stock valued at $358,578 in the last three months. 3.36% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in City by 0.8% during the 2nd quarter. BlackRock Inc. now owns 2,388,600 shares of the bank’s stock worth $182,155,000 after buying an additional 18,741 shares during the last quarter. Northern Trust Corp raised its position in shares of City by 1.3% in the 2nd quarter. Northern Trust Corp now owns 477,814 shares of the bank’s stock valued at $36,438,000 after purchasing an additional 6,111 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of City by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 96,116 shares of the bank’s stock valued at $7,330,000 after purchasing an additional 2,436 shares during the last quarter. Morgan Stanley boosted its stake in City by 69.8% in the 2nd quarter. Morgan Stanley now owns 82,055 shares of the bank’s stock worth $6,259,000 after purchasing an additional 33,742 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in City by 35.5% in the 2nd quarter. Royal Bank of Canada now owns 68,865 shares of the bank’s stock worth $5,251,000 after purchasing an additional 18,050 shares in the last quarter. Institutional investors own 66.73% 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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

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