Brokerages forecast that City Holding (NASDAQ:CHCO) will report sales of $58.19 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for City’s earnings. The lowest sales estimate is $57.88 million and the highest is $58.50 million. City reported sales of $51.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The firm is expected to issue its next quarterly earnings results on Monday, October 28th.
According to Zacks, analysts expect that City will report full year sales of $230.54 million for the current year, with estimates ranging from $229.41 million to $231.66 million. For the next financial year, analysts expect that the business will report sales of $239.19 million, with estimates ranging from $236.31 million to $242.07 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow City.
City (NASDAQ:CHCO) last announced its earnings results on Monday, July 22nd. The bank reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.08. City had a net margin of 30.14% and a return on equity of 14.52%. The business had revenue of $58.74 million during the quarter, compared to analysts’ expectations of $57.24 million.
In other news, CFO David L. Bumgarner sold 1,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $76.65, for a total value of $76,650.00. Following the transaction, the chief financial officer now directly owns 8,936 shares of the company’s stock, valued at $684,944.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig G. Stilwell sold 2,925 shares of the stock in a transaction dated Thursday, May 2nd. The shares were 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 disclosure for this sale can be found here. Insiders have sold 11,925 shares of company stock worth $949,885 over the last ninety days. Insiders own 3.36% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in shares of 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 acquiring an additional 3,318 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of City in the fourth quarter valued at about $302,000. Piedmont Investment Advisors Inc. grew its stake in shares of 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 acquiring an additional 210 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of 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 acquiring an additional 4,202 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of City in the first quarter valued at about $361,000. 67.70% of the stock is currently owned by institutional investors.
CHCO traded up $1.06 during trading hours on Thursday, hitting $77.18. 46,413 shares of the company’s stock were exchanged, compared to its average volume of 52,957. City has a 1-year low of $65.32 and a 1-year high of $83.27. The firm has a 50-day moving average price of $75.49. The company has a market capitalization of $1.27 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.78. 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 also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, July 12th. City’s dividend payout ratio (DPR) is currently 41.09%.
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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