City Holding Company (CHCO) Expected to Post Quarterly Sales of $47.43 Million
Equities analysts forecast that City Holding Company (NASDAQ:CHCO) will post sales of $47.43 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for City’s earnings. The highest sales estimate is $47.54 million and the lowest is $47.32 million. City reported sales of $44.75 million during the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is expected to issue its next earnings report on Thursday, January 18th.
On average, analysts expect that City will report full year sales of $47.43 million for the current year, with estimates ranging from $186.12 million to $190.24 million. For the next financial year, analysts expect that the firm will report sales of $195.70 million per share, with estimates ranging from $194.56 million to $196.84 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow City.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. City had a return on equity of 12.34% and a net margin of 29.25%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $47.18 million. During the same period in the prior year, the firm posted $0.88 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.
Shares of City (NASDAQ CHCO) traded up $0.56 during midday trading on Wednesday, reaching $67.26. The company’s stock had a trading volume of 48,677 shares, compared to its average volume of 64,120. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. City has a 52-week low of $58.80 and a 52-week high of $74.90. The firm has a market cap of $1,041.72, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be issued a dividend of $0.46 per share. This is a positive change from City’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Thursday, January 11th. City’s dividend payout ratio is 45.83%.
In other news, CFO David L. Bumgarner sold 1,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the sale, the chief financial officer now directly owns 10,965 shares of the company’s stock, valued at approximately $800,445. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.88% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of City by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,913,498 shares of the bank’s stock worth $126,042,000 after purchasing an additional 7,009 shares in the last quarter. Vanguard Group Inc. boosted its stake in City by 4.0% in the second quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock valued at $96,778,000 after buying an additional 57,001 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in City by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock valued at $36,713,000 after buying an additional 15,216 shares in the last quarter. Northern Trust Corp boosted its stake in City by 2.2% in the second quarter. Northern Trust Corp now owns 478,138 shares of the bank’s stock valued at $31,495,000 after buying an additional 10,505 shares in the last quarter. Finally, Walthausen & Co. LLC boosted its stake in City by 14.1% in the third quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock valued at $12,742,000 after buying an additional 21,850 shares in the last quarter. 64.97% of the stock is currently owned by institutional investors.
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City Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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