Equities Analysts Issue Forecasts for City FY2025 Earnings

City Holding (NASDAQ:CHCO - Free Report) - Investment analysts at DA Davidson boosted their FY2025 earnings per share (EPS) estimates for City in a research report issued to clients and investors on Wednesday, November 6th. DA Davidson analyst M. Navas now anticipates that the bank will post earnings per share of $7.40 for the year, up from their prior estimate of $7.25. The consensus estimate for City's current full-year earnings is $7.78 per share.

Separately, Piper Sandler reiterated a "neutral" rating and issued a $135.00 price target on shares of City in a report on Friday.

City Trading Up 0.9 %

Shares of City stock traded up $1.21 during trading hours on Friday, hitting $129.77. The company's stock had a trading volume of 9,854 shares, compared to its average volume of 56,852. The business has a fifty day moving average of $117.67 and a 200 day moving average of $111.83. City has a 1-year low of $92.76 and a 1-year high of $135.83. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.91 billion, a PE ratio of 16.50 and a beta of 0.46.

City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analysts' expectations of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%.

Hedge Funds Weigh In On City

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank's stock valued at $25,000 after purchasing an additional 113 shares during the period. nVerses Capital LLC acquired a new position in shares of City during the third quarter worth approximately $59,000. Bessemer Group Inc. grew its holdings in City by 90.7% in the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank's stock worth $132,000 after buying an additional 604 shares in the last quarter. SG Americas Securities LLC acquired a new stake in City in the 1st quarter valued at approximately $180,000. Finally, Crossmark Global Holdings Inc. bought a new stake in City during the 3rd quarter valued at $199,000. Institutional investors and hedge funds own 72.43% of the company's stock.

Insider Activity

In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the sale, the executive vice president now directly owns 2,000 shares of the company's stock, valued at approximately $231,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares in the company, valued at $231,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James L. Rossi sold 1,000 shares of City stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the transaction, the director now owns 18,233 shares of the company's stock, valued at approximately $2,096,795. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,384 shares of company stock worth $422,233. 2.39% of the stock is currently owned by corporate insiders.

City Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Tuesday, October 15th. This is a positive change from City's previous quarterly dividend of $0.72. City's payout ratio is 40.56%.

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.