Equities Analysts Issue Forecasts for City FY2024 Earnings

City Holding (NASDAQ:CHCO) – Investment analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for shares of City in a report released on Wednesday, November 6th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $7.75 per share for the year, up from their prior forecast of $7.65. The consensus estimate for City’s current full-year earnings is $7.78 per share. DA Davidson also issued estimates for City’s Q4 2024 earnings at $1.83 EPS.

City Trading Down 3.7 %

NASDAQ CHCO opened at $128.56 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 0.82. The company’s 50-day simple moving average is $117.67 and its two-hundred day simple moving average is $111.83. City has a one year low of $92.76 and a one year high of $135.83. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.50 and a beta of 0.46.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The firm had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million.

City Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.46%. The ex-dividend date was Tuesday, October 15th. This is a boost from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio (DPR) is 40.56%.

Insider Activity

In related news, Director James L. Rossi sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now owns 18,233 shares of the company’s stock, valued at $2,096,795. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director James L. Rossi sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the sale, the director now owns 18,233 shares in the company, valued at approximately $2,096,795. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares in the company, valued at $231,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,384 shares of company stock worth $422,233. 2.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On City

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in City by 4.5% in the second quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after acquiring an additional 91 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of City by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock worth $786,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC raised its position in shares of City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares during the last quarter. Victory Capital Management Inc. lifted its stake in City by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock valued at $1,018,000 after buying an additional 137 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in City by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank’s stock worth $1,350,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

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.