City (NASDAQ:CHCO – Get Free Report) posted its quarterly earnings results on Tuesday. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08, Zacks reports. City had a net margin of 32.12% and a return on equity of 17.62%. The company had revenue of $94.90 million for the quarter, compared to the consensus estimate of $73.20 million.
City Stock Up 3.5 %
CHCO traded up $4.25 during mid-day trading on Thursday, reaching $124.18. 11,105 shares of the stock were exchanged, compared to its average volume of 60,533. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $1.83 billion, a PE ratio of 15.41 and a beta of 0.48. The company has a 50 day moving average price of $106.42 and a two-hundred day moving average price of $104.05. City has a 1 year low of $86.56 and a 1 year high of $124.87.
City Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Monday, July 15th. City’s payout ratio is currently 35.97%.
Insiders Place Their Bets
Analysts Set New Price Targets
A number of research firms have recently weighed in on CHCO. Stephens reduced their price target on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Hovde Group lifted their target price on shares of City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $110.00 target price (up from $100.00) on shares of City in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.75.
Read Our Latest Stock Analysis on CHCO
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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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