Boenning Scattergood Comments on City Holding Company’s Q1 2018 Earnings (CHCO)
City Holding Company (NASDAQ:CHCO) – Stock analysts at Boenning Scattergood upped their Q1 2018 earnings per share (EPS) estimates for shares of City in a report released on Wednesday. Boenning Scattergood analyst M. Schultheis now anticipates that the bank will post earnings of $1.11 per share for the quarter, up from their previous estimate of $0.91. Boenning Scattergood also issued estimates for City’s Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.15 EPS, Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.64 EPS and FY2019 earnings at $4.82 EPS.
City (NASDAQ:CHCO) last released its earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $45.90 million during the quarter, compared to the consensus estimate of $47.18 million. City had a net margin of 29.25% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share.
A number of other research firms also recently weighed in on CHCO. BidaskClub raised shares of City from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Zacks Investment Research raised shares of City from a “sell” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $70.33.
City (NASDAQ CHCO) opened at $68.21 on Friday. The firm has a market cap of $1,070.00, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.78 and a beta of 0.83. City has a 12-month low of $58.80 and a 12-month high of $74.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walthausen & Co. LLC lifted its stake in shares of City by 14.1% during the 3rd quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock worth $12,742,000 after buying an additional 21,850 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in City in the 3rd quarter worth about $315,000. Schwab Charles Investment Management Inc. raised its stake in City by 5.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 71,614 shares of the bank’s stock worth $5,150,000 after purchasing an additional 3,569 shares in the last quarter. Wells Fargo & Company MN raised its stake in City by 11.9% in the 3rd quarter. Wells Fargo & Company MN now owns 39,488 shares of the bank’s stock worth $2,839,000 after purchasing an additional 4,198 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in City by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 513,118 shares of the bank’s stock worth $36,713,000 after purchasing an additional 15,216 shares in the last quarter. Institutional investors own 64.97% of the company’s stock.
In other news, CFO David L. Bumgarner sold 1,000 shares of City stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the chief financial officer now owns 10,965 shares of the company’s stock, valued at approximately $800,445. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.88% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, January 11th. This is an increase from City’s previous quarterly dividend of $0.44. City’s dividend payout ratio (DPR) is 45.95%.
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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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