City Holding (NASDAQ:CHCO) Expected to Announce Earnings of $1.33 Per Share
Equities research analysts expect that City Holding (NASDAQ:CHCO) will report $1.33 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for City’s earnings, with estimates ranging from $1.30 to $1.35. City also reported earnings per share of $1.33 during the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Monday, October 28th.
According to Zacks, analysts expect that City will report full year earnings of $5.29 per share for the current year, with EPS estimates ranging from $5.25 to $5.33. For the next year, analysts anticipate that the firm will report earnings of $5.44 per share, with EPS estimates ranging from $5.40 to $5.47. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for City.
City (NASDAQ:CHCO) last posted its earnings results on Monday, July 22nd. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.08. The company had revenue of $58.74 million during the quarter, compared to analysts’ expectations of $57.24 million. City had a return on equity of 14.52% and a net margin of 30.14%.
CHCO stock traded up $1.06 during midday trading on Tuesday, hitting $77.18. 46,413 shares of the company’s stock were exchanged, compared to its average volume of 52,957. The company’s 50-day simple moving average is $75.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.27 billion, a PE ratio of 14.96, a PEG ratio of 1.82 and a beta of 0.78. City has a 1-year low of $65.32 and a 1-year high of $83.27.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.75%. City’s dividend payout ratio is currently 41.09%.
In other news, EVP Craig G. Stilwell sold 2,925 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $79.00, for a total transaction of $231,075.00. Following the completion of the transaction, the executive vice president now directly owns 18,091 shares in the company, valued at $1,429,189. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David L. Bumgarner sold 1,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $76.65, for a total value of $76,650.00. Following the transaction, the chief financial officer now owns 8,936 shares of the company’s stock, valued at $684,944.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,925 shares of company stock valued at $949,885. Company insiders own 3.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its holdings in City by 932.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,674 shares of the bank’s stock valued at $280,000 after purchasing an additional 3,318 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in City in the fourth quarter valued at $302,000. Piedmont Investment Advisors Inc. boosted its holdings in City by 5.3% in the first quarter. Piedmont Investment Advisors Inc. now owns 4,156 shares of the bank’s stock valued at $317,000 after purchasing an additional 210 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in City by 386.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,288 shares of the bank’s stock valued at $357,000 after purchasing an additional 4,202 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in City in the first quarter valued at $361,000. Institutional investors and hedge funds own 67.70% of the company’s stock.
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 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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