Zacks Investment Research Lowers City (CHCO) to Hold

Zacks Investment Research lowered shares of City (NASDAQ:CHCO) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “City Holding Company is a multi-bank holding company that provides diversified financial products and services to consumers and local businesses. “

Separately, BidaskClub lowered City from a buy rating to a hold rating in a research report on Saturday, April 28th.

CHCO stock opened at $77.33 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 2.11 and a beta of 0.74. City has a 1 year low of $58.80 and a 1 year high of $79.00.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, April 19th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. City had a return on equity of 12.66% and a net margin of 27.09%. The business had revenue of $47.14 million for the quarter, compared to analyst estimates of $46.99 million. equities analysts forecast that City will post 4.63 EPS for the current fiscal year.

In other news, EVP Craig G. Stilwell sold 5,350 shares of the firm’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $74.58, for a total transaction of $399,003.00. Following the sale, the executive vice president now owns 30,453 shares of the company’s stock, valued at approximately $2,271,184.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey Dale Legge sold 899 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $72.00, for a total value of $64,728.00. Following the sale, the chief accounting officer now directly owns 6,252 shares in the company, valued at approximately $450,144. The disclosure for this sale can be found here. Insiders have sold a total of 24,476 shares of company stock worth $1,786,315 in the last three months. Corporate insiders own 3.83% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its stake in City by 79.1% during the 1st quarter. UBS Group AG now owns 1,734 shares of the bank’s stock worth $119,000 after buying an additional 766 shares during the last quarter. California Public Employees Retirement System grew its stake in City by 1.3% during the 4th quarter. California Public Employees Retirement System now owns 66,221 shares of the bank’s stock worth $4,468,000 after buying an additional 848 shares during the last quarter. Geode Capital Management LLC grew its stake in City by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 144,948 shares of the bank’s stock worth $9,779,000 after buying an additional 1,174 shares during the last quarter. Swiss National Bank grew its stake in City by 4.6% during the 1st quarter. Swiss National Bank now owns 27,200 shares of the bank’s stock worth $1,865,000 after buying an additional 1,200 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in City by 0.4% during the 4th quarter. Macquarie Group Ltd. now owns 342,678 shares of the bank’s stock worth $23,120,000 after buying an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 66.34% of the company’s stock.

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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