Q3 2024 EPS Estimates for City Holding Raised by Analyst (NASDAQ:CHCO)

City Holding (NASDAQ:CHCO) – DA Davidson boosted their Q3 2024 earnings per share (EPS) estimates for City in a report issued on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $1.93 per share for the quarter, up from their prior estimate of $1.92. The consensus estimate for City’s current full-year earnings is $7.73 per share.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. City had a return on equity of 17.42% and a net margin of 32.12%. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $73.20 million.

City Trading Up 1.1 %

Shares of CHCO opened at $114.66 on Friday. City has a 12-month low of $86.56 and a 12-month high of $125.54. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 14.42 and a beta of 0.47. The stock’s 50-day moving average price is $116.24 and its 200 day moving average price is $108.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after buying an additional 113 shares in the last quarter. Bessemer Group Inc. increased its holdings in City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after purchasing an additional 604 shares in the last quarter. SG Americas Securities LLC bought a new position in City during the 1st quarter worth about $180,000. Intech Investment Management LLC bought a new position in City during the 2nd quarter worth about $208,000. Finally, Commonwealth Equity Services LLC boosted its stake in shares of City by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock worth $226,000 after buying an additional 91 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 7,244 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $123.62, for a total transaction of $895,503.28. Following the transaction, the chief executive officer now directly owns 45,974 shares in the company, valued at $5,683,305.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Charles R. Hageboeck sold 7,244 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now directly owns 45,974 shares in the company, valued at approximately $5,683,305.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J. Thomas Jones sold 569 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $122.47, for a total value of $69,685.43. Following the completion of the sale, the director now owns 4,411 shares in the company, valued at approximately $540,215.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,413 shares of company stock worth $1,149,561 over the last three months. Company insiders own 2.45% of the company’s stock.

City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.76%. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, October 15th. City’s payout ratio is currently 39.75%.

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.