City Holding (NASDAQ:CHCO) Expected to Post Quarterly Sales of $58.19 Million

Wall Street analysts expect City Holding (NASDAQ:CHCO) to report $58.19 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for City’s earnings, with the lowest sales estimate coming in at $57.88 million and the highest estimate coming in at $58.50 million. City reported sales of $51.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The company is expected to announce its next quarterly earnings report 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 fiscal year, analysts expect that the company will post sales of $239.19 million, with estimates ranging from $236.31 million to $242.07 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover City.

City (NASDAQ:CHCO) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The company had revenue of $58.74 million for 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 has been the topic of several analyst reports. Hovde Group started coverage on City in a research note on Monday, June 3rd. They issued a “market perform” rating and a $76.00 price objective on the stock. Boenning Scattergood reissued a “neutral” rating on shares of City in a report on Thursday, June 20th. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Thursday. Finally, BidaskClub lowered City from a “hold” rating to a “sell” rating in a report on Saturday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $81.50.

Shares of NASDAQ CHCO traded down $1.96 during mid-day trading on Thursday, hitting $75.49. The company had a trading volume of 112,700 shares, compared to its average volume of 53,631. The stock has a market cap of $1.25 billion, a P/E ratio of 14.63, a PEG ratio of 1.80 and a beta of 0.78. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. City has a 1-year low of $65.32 and a 1-year high of $83.27. The business’s 50-day moving average price is $75.59.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, July 12th. City’s dividend payout ratio (DPR) is presently 41.09%.

In other City news, CFO David L. Bumgarner sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $76.65, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $80.27, for a total value of $642,160.00. Following the transaction, the chief executive officer now directly owns 62,157 shares in the company, valued at approximately $4,989,342.39. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of City by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 730,022 shares of the bank’s stock worth $49,343,000 after purchasing an additional 10,985 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of City by 16.8% during the fourth quarter. Macquarie Group Ltd. now owns 549,557 shares of the bank’s stock worth $37,145,000 after purchasing an additional 78,873 shares during the last quarter. Northern Trust Corp grew its holdings in shares of City by 2.6% during the fourth quarter. Northern Trust Corp now owns 474,566 shares of the bank’s stock worth $32,075,000 after purchasing an additional 11,845 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of City by 14.7% during the fourth quarter. Geode Capital Management LLC now owns 195,596 shares of the bank’s stock worth $13,220,000 after purchasing an additional 25,079 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of City by 10.0% during the fourth quarter. Principal Financial Group Inc. now owns 143,394 shares of the bank’s stock worth $9,692,000 after purchasing an additional 12,992 shares during the last quarter. 67.70% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for City (NASDAQ:CHCO)

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