City (CHCO) Upgraded at BidaskClub

BidaskClub upgraded shares of City (NASDAQ:CHCO) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other research firms have also recently commented on CHCO. Boenning Scattergood reissued a hold rating on shares of City in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of City from a sell rating to a hold rating and set a $78.00 price target on the stock in a research note on Friday, December 22nd. Finally, Sandler O’Neill set a $72.00 price target on shares of City and gave the company a hold rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $71.67.

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Shares of CHCO stock opened at $68.15 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $1,086.09, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. City has a 52 week low of $58.80 and a 52 week high of $74.90.

City (NASDAQ:CHCO) last released its quarterly earnings results 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. City had a net margin of 26.25% and a return on equity of 12.40%. The business had revenue of $47.96 million for the quarter, compared to analysts’ expectations of $47.43 million. sell-side analysts predict that City will post 4.57 EPS for the current fiscal year.

In other news, CEO Charles R. Hageboeck sold 5,114 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $68.29, for a total transaction of $349,235.06. Following the sale, the chief executive officer now directly owns 70,863 shares of the company’s stock, valued at $4,839,234.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lbmc Investment Advisors LLC acquired a new position in City in the fourth quarter valued at approximately $202,000. Xact Kapitalforvaltning AB acquired a new position in City in the fourth quarter valued at approximately $213,000. McKinley Carter Wealth Services Inc. acquired a new position in City in the fourth quarter valued at approximately $225,000. Crossmark Global Holdings Inc. acquired a new position in City in the third quarter valued at approximately $248,000. Finally, Asset Management One Co. Ltd. acquired a new position in City in the third quarter valued at approximately $315,000. Institutional investors and hedge funds own 66.87% of the company’s stock.

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About City

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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