Zacks: Analysts Anticipate City Holding (NASDAQ:CHCO) Will Announce Quarterly Sales of $56.64 Million

Equities analysts forecast that City Holding (NASDAQ:CHCOGet Rating) will post $56.64 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for City’s earnings, with the highest sales estimate coming in at $56.70 million and the lowest estimate coming in at $56.59 million. City posted sales of $55.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that City will report full year sales of $229.86 million for the current fiscal year, with estimates ranging from $229.50 million to $230.22 million. For the next year, analysts expect that the company will report sales of $243.53 million, with estimates ranging from $241.00 million to $246.07 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow City.

City (NASDAQ:CHCOGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The bank reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.16. City had a return on equity of 13.31% and a net margin of 38.11%.

A number of research analysts have issued reports on the company. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Thursday, March 31st. StockNews.com cut City from a “hold” rating to a “sell” rating in a research note on Monday.

In related news, EVP Michael T. Quinlan, Jr. sold 1,850 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $79.59, for a total transaction of $147,241.50. Following the sale, the executive vice president now owns 4,950 shares in the company, valued at $393,970.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 5,050 shares of the company’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $80.08, for a total value of $404,404.00. Following the sale, the chief executive officer now owns 54,109 shares in the company, valued at approximately $4,333,048.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,660 shares of company stock worth $692,446. Corporate insiders own 2.56% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHCO. New York State Teachers Retirement System raised its stake in City by 1.3% in the fourth quarter. New York State Teachers Retirement System now owns 31,319 shares of the bank’s stock valued at $2,562,000 after buying an additional 400 shares during the period. Captrust Financial Advisors raised its stake in City by 89.4% in the third quarter. Captrust Financial Advisors now owns 2,633 shares of the bank’s stock valued at $205,000 after buying an additional 1,243 shares during the period. BNP Paribas Arbitrage SA raised its stake in City by 130.5% in the third quarter. BNP Paribas Arbitrage SA now owns 16,320 shares of the bank’s stock valued at $1,271,000 after buying an additional 9,241 shares during the period. American Century Companies Inc. raised its stake in City by 14.3% in the third quarter. American Century Companies Inc. now owns 28,677 shares of the bank’s stock valued at $2,234,000 after buying an additional 3,577 shares during the period. Finally, Macquarie Group Ltd. raised its stake in City by 0.9% in the third quarter. Macquarie Group Ltd. now owns 564,893 shares of the bank’s stock valued at $44,011,000 after buying an additional 5,201 shares during the period. Institutional investors and hedge funds own 64.12% of the company’s stock.

NASDAQ:CHCO opened at $82.12 on Friday. City has a 1 year low of $71.61 and a 1 year high of $86.30. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.09 and a beta of 0.56. The stock has a 50-day moving average price of $78.43 and a two-hundred day moving average price of $79.96.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Friday, April 15th were issued a $0.60 dividend. The ex-dividend date was Wednesday, April 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. City’s dividend payout ratio (DPR) is 41.17%.

City Company Profile (Get Rating)

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 offers 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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