City (NASDAQ:CHCO) Cut to Sell at BidaskClub

City (NASDAQ:CHCO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, March 22nd, BidAskClub reports.

Several other research analysts have also commented on CHCO. Zacks Investment Research upgraded shares of City from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, November 22nd. Boenning Scattergood reiterated a “hold” rating on shares of City in a research note on Thursday, January 24th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.00.

City stock traded down $1.44 during trading hours on Friday, hitting $77.48. The company had a trading volume of 38,937 shares, compared to its average volume of 59,763. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.88 and a quick ratio of 0.88. City has a 1 year low of $65.32 and a 1 year high of $83.27.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, January 24th. The bank reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. The business had revenue of $51.14 million during the quarter, compared to analyst estimates of $52.88 million. City had a net margin of 31.15% and a return on equity of 15.26%. Research analysts expect that City will post 5.26 earnings per share for the current year.

In other City news, CEO Charles R. Hageboeck sold 4,154 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $79.77, for a total transaction of $331,364.58. Following the transaction, the chief executive officer now owns 60,405 shares in the company, valued at approximately $4,818,506.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 1,593 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $79.50, for a total transaction of $126,643.50. Following the transaction, the chief executive officer now owns 57,121 shares in the company, valued at approximately $4,541,119.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,565 shares of company stock worth $522,916 in the last 90 days. 3.36% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of City by 6.3% in the 4th quarter. BlackRock Inc. now owns 2,359,912 shares of the bank’s stock valued at $159,507,000 after acquiring an additional 139,779 shares during the last quarter. Vanguard Group Inc. boosted its holdings in City by 2.4% during the third quarter. Vanguard Group Inc. now owns 1,590,260 shares of the bank’s stock worth $122,133,000 after buying an additional 36,829 shares in the last quarter. Vanguard Group Inc boosted its holdings in City by 2.4% during the third quarter. Vanguard Group Inc now owns 1,590,260 shares of the bank’s stock worth $122,133,000 after buying an additional 36,829 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in City by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 730,022 shares of the bank’s stock valued at $49,343,000 after purchasing an additional 10,985 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in City by 16.8% during the fourth quarter. Macquarie Group Ltd. now owns 549,557 shares of the bank’s stock valued at $37,145,000 after purchasing an additional 78,873 shares in the last quarter. 67.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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