City (NASDAQ:CHCO) Lowered to Sell at ValuEngine

City (NASDAQ:CHCO) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded City from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. BidaskClub raised City from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. City has an average rating of “Hold” and an average price target of $81.50.

NASDAQ CHCO traded up $1.73 during trading on Monday, reaching $79.09. 109,300 shares of the company’s stock were exchanged, compared to its average volume of 56,346. The business has a 50 day moving average price of $75.86 and a 200-day moving average price of $76.20. The stock has a market capitalization of $1.26 billion, a P/E ratio of 15.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. City has a fifty-two week low of $65.32 and a fifty-two week high of $83.04.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The firm had revenue of $58.74 million for the quarter, compared to the consensus estimate of $57.24 million. City had a return on equity of 14.52% and a net margin of 30.14%. On average, analysts forecast that City will post 5.34 earnings per share for the current year.

In other news, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig G. Stilwell sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $74.92, for a total value of $202,284.00. Following the completion of the transaction, the executive vice president now directly owns 15,696 shares in the company, valued at approximately $1,175,944.32. The disclosure for this sale can be found here. 3.36% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of City in the second quarter valued at approximately $3,844,000. Everence Capital Management Inc. acquired a new position in shares of City in the second quarter valued at approximately $222,000. Schroder Investment Management Group grew its position in shares of City by 51.6% in the second quarter. Schroder Investment Management Group now owns 14,400 shares of the bank’s stock valued at $1,098,000 after purchasing an additional 4,902 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of City in the second quarter valued at approximately $26,000. Finally, Swiss National Bank grew its position in shares of City by 7.7% in the second quarter. Swiss National Bank now owns 30,800 shares of the bank’s stock valued at $2,349,000 after purchasing an additional 2,200 shares during the last quarter. 66.86% of the stock is currently owned by institutional investors.

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.

Featured Article: Convertible Shares

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for City Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City and related companies with MarketBeat.com's FREE daily email newsletter.