A number of other equities research analysts have also recently issued reports on CHCO. BidaskClub raised shares of City from a buy rating to a strong-buy rating in a research report on Thursday, October 12th. Zacks Investment Research raised shares of City from a sell rating to a hold rating and set a $78.00 target price for the company in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $70.75.
City (NASDAQ:CHCO) traded down $0.42 during mid-day trading on Thursday, reaching $66.70. 45,400 shares of the company’s stock were exchanged, compared to its average volume of 67,633. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90. City has a 1 year low of $58.80 and a 1 year high of $74.90. The company has a market capitalization of $1,048.28, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from City’s previous quarterly dividend of $0.44. City’s payout ratio is presently 45.83%.
In other news, CFO David L. Bumgarner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the sale, the chief financial officer now owns 10,965 shares of the company’s stock, valued at $800,445. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.88% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in City by 0.4% during the second quarter. BlackRock Inc. now owns 1,913,498 shares of the bank’s stock worth $126,042,000 after purchasing an additional 7,009 shares during the period. Vanguard Group Inc. lifted its position in City by 4.0% during the second quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock worth $96,778,000 after purchasing an additional 57,001 shares during the period. JPMorgan Chase & Co. lifted its position in City by 3.1% during 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 period. Northern Trust Corp lifted its position in City by 2.2% during the second quarter. Northern Trust Corp now owns 478,138 shares of the bank’s stock worth $31,495,000 after purchasing an additional 10,505 shares during the period. Finally, Walthausen & Co. LLC lifted its position in City by 14.1% during the third quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock worth $12,742,000 after purchasing an additional 21,850 shares during the period. 64.97% of the stock is owned by institutional investors and hedge funds.
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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