$46.99 Million in Sales Expected for City Holding (CHCO) This Quarter

Equities analysts expect City Holding (NASDAQ:CHCO) to announce sales of $46.99 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for City’s earnings. The lowest sales estimate is $46.46 million and the highest is $47.52 million. City posted sales of $48.95 million in the same quarter last year, which would indicate a negative year over year growth rate of 4%. The company is expected to issue its next quarterly earnings report on Monday, April 23rd.

On average, analysts expect that City will report full-year sales of $46.99 million for the current financial year, with estimates ranging from $194.11 million to $196.16 million. For the next year, analysts expect that the company will post sales of $204.91 million per share, with estimates ranging from $204.84 million to $204.97 million. Zacks’ sales averages are an average based on a survey of research firms that cover City.

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City (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.11. The firm had revenue of $47.96 million during the quarter, compared to the consensus estimate of $47.43 million. City had a return on equity of 12.40% and a net margin of 26.25%.

Several equities research analysts have recently commented on the company. BidaskClub upgraded City from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Zacks Investment Research downgraded City from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Sandler O’Neill set a $72.00 price objective on City and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Boenning Scattergood restated a “hold” rating on shares of City in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $71.67.

In related news, CEO Charles R. Hageboeck sold 5,114 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $68.29, for a total transaction of $349,235.06. Following the completion of the sale, the chief executive officer now owns 70,863 shares in the company, valued at $4,839,234.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.88% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CHCO. Crossmark Global Holdings Inc. bought a new stake in City during the third quarter worth $248,000. Prudential Financial Inc. boosted its position in City by 21.2% in the third quarter. Prudential Financial Inc. now owns 32,193 shares of the bank’s stock worth $2,315,000 after purchasing an additional 5,640 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in City by 83.9% in the third quarter. BNP Paribas Arbitrage SA now owns 8,774 shares of the bank’s stock worth $631,000 after purchasing an additional 4,004 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in City by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the bank’s stock worth $421,000 after purchasing an additional 2,170 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in City by 3.1% in the third 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 during the last quarter. Institutional investors and hedge funds own 66.92% of the company’s stock.

City (NASDAQ CHCO) traded down $1.15 during midday trading on Friday, hitting $71.39. The stock had a trading volume of 72,921 shares, compared to its average volume of 54,274. The company has a market capitalization of $1,130.13, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. City has a 52-week low of $58.80 and a 52-week high of $74.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91.

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City Company Profile

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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Earnings History and Estimates for City (NASDAQ:CHCO)

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