BidaskClub Lowers City (CHCO) to Hold

BidaskClub downgraded shares of City (NASDAQ:CHCO) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Zacks Investment Research raised City from a hold rating to a buy rating and set a $77.00 price target for the company in a research note on Wednesday, April 4th.

Shares of City stock opened at $76.48 on Wednesday. City has a 12 month low of $58.80 and a 12 month high of $78.75. The company has a market cap of $1.18 billion, a P/E ratio of 18.92, a PEG ratio of 2.06 and a beta of 0.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.89.



City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, April 19th. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. City had a return on equity of 12.66% and a net margin of 27.09%. The company had revenue of $47.14 million during the quarter, compared to analyst estimates of $46.99 million. research analysts predict that City will post 4.63 earnings per share for the current year.

In other news, CEO Charles R. Hageboeck sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $72.25, for a total value of $289,000.00. Following the completion of the sale, the chief executive officer now directly owns 59,156 shares of the company’s stock, valued at approximately $4,274,021. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles R. Hageboeck sold 7,707 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $72.01, for a total value of $554,981.07. Following the completion of the sale, the chief executive officer now directly owns 63,156 shares of the company’s stock, valued at $4,547,863.56. The disclosure for this sale can be found here. Insiders sold a total of 24,476 shares of company stock valued at $1,786,315 over the last ninety days. Corporate insiders own 3.83% of the company’s stock.

Several large investors have recently bought and sold shares of the company. UBS Group AG lifted its stake in shares of City by 79.1% in the 1st quarter. UBS Group AG now owns 1,734 shares of the bank’s stock valued at $119,000 after purchasing an additional 766 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of City by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 66,221 shares of the bank’s stock valued at $4,468,000 after purchasing an additional 848 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of City by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 144,948 shares of the bank’s stock valued at $9,779,000 after purchasing an additional 1,174 shares during the last quarter. Swiss National Bank lifted its stake in shares of City by 4.6% in the 1st quarter. Swiss National Bank now owns 27,200 shares of the bank’s stock valued at $1,865,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of 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 acquiring an additional 1,250 shares during the last quarter. 66.34% of the stock is owned by institutional investors and hedge funds.

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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