City (NASDAQ:CHCO) Rating Lowered to Sell at ValuEngine

City (NASDAQ:CHCO) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

A number of other research analysts have also recently weighed in on CHCO. BidaskClub raised shares of City from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Zacks Investment Research cut shares of City from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $81.50.

NASDAQ CHCO opened at $79.05 on Monday. The company has a market capitalization of $1.27 billion, a PE ratio of 15.32 and a beta of 0.78. The company has a fifty day moving average of $75.96 and a 200 day moving average of $76.21. City has a 1 year low of $65.32 and a 1 year high of $83.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87.

City (NASDAQ:CHCO) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. City had a net margin of 30.14% and a return on equity of 14.52%. The company had revenue of $58.74 million during the quarter, compared to analysts’ expectations of $57.24 million. Research analysts expect that City will post 5.34 earnings per share for the current year.

In other City news, EVP Craig G. Stilwell sold 2,700 shares of City stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $74.92, for a total value of $202,284.00. Following the completion of the transaction, the executive vice president now owns 15,696 shares of the company’s stock, valued at $1,175,944.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David L. Bumgarner sold 1,000 shares of City stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $76.65, for a total transaction of $76,650.00. Following the completion of the transaction, the chief financial officer now directly owns 8,936 shares of the company’s stock, valued at approximately $684,944.40. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ purchased a new position in City in the second quarter valued at $3,844,000. Everence Capital Management Inc. purchased a new stake in shares of City during the second quarter worth about $222,000. Schroder Investment Management Group increased its stake in shares of City by 51.6% during the second quarter. Schroder Investment Management Group now owns 14,400 shares of the bank’s stock worth $1,098,000 after purchasing an additional 4,902 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of City during the second quarter worth about $26,000. Finally, Swiss National Bank increased its stake in shares of City by 7.7% during the second quarter. Swiss National Bank now owns 30,800 shares of the bank’s stock worth $2,349,000 after purchasing an additional 2,200 shares in the last quarter. 66.86% of the stock is owned by institutional investors.

City Company Profile

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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