City (CHCO) Rating Lowered to Strong Sell at BidaskClub

City (NASDAQ:CHCO) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently weighed in on CHCO. Zacks Investment Research downgraded shares of City from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Sandler O’Neill set a $72.00 price target on shares of City and gave the company a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. City presently has an average rating of “Hold” and an average target price of $70.75.

Shares of City (NASDAQ:CHCO) traded up $0.77 during trading on Tuesday, reaching $68.02. 38,900 shares of the company’s stock were exchanged, compared to its average volume of 51,886. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. City has a 12-month low of $58.80 and a 12-month high of $74.90. The company has a market cap of $1,060.00, a P/E ratio of 17.76, a PEG ratio of 1.65 and a beta of 0.84.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. City had a net margin of 29.25% and a return on equity of 12.34%. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $47.18 million. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 1.1% on a year-over-year basis. analysts forecast that City will post 3.84 earnings per share for the current year.

In other news, CFO David L. Bumgarner sold 1,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 10,965 shares in the company, valued at approximately $800,445. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in CHCO. JPMorgan Chase & Co. raised its stake in shares of City by 27.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock valued at $32,797,000 after buying an additional 106,203 shares in the last quarter. Vanguard Group Inc. increased its position in shares of City by 4.0% during the 2nd 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 in the last quarter. Zacks Investment Management acquired a new stake in shares of City during the 2nd quarter worth about $2,178,000. WBI Investments Inc. acquired a new stake in shares of City during the 2nd quarter worth about $1,491,000. Finally, Walthausen & Co. LLC increased its position in shares of City by 14.1% during the 3rd 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 in the last quarter. Institutional investors own 64.97% of the company’s stock.

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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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