City Holding Company (CHCO) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of City Holding Company (NASDAQ:CHCO) from a buy rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “City Holding Company is a multi-bank holding company that provides diversified financial products and services to consumers and local businesses. “

Separately, DA Davidson started coverage on City Holding Company in a report on Monday, March 6th. They set a neutral rating and a $68.00 target price on the stock.

City Holding Company (NASDAQ:CHCO) opened at 62.18 on Wednesday. The company has a market capitalization of $968.45 million, a PE ratio of 18.02 and a beta of 0.81. City Holding Company has a one year low of $42.98 and a one year high of $69.09. The firm’s 50 day moving average price is $65.34 and its 200-day moving average price is $60.07.

City Holding Company (NASDAQ:CHCO) last posted its earnings results on Thursday, January 19th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.10. City Holding Company had a return on equity of 12.16% and a net margin of 27.20%. During the same quarter last year, the firm posted $0.88 EPS. Equities analysts forecast that City Holding Company will post $3.41 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of CHCO. Municipal Employees Retirement System of Michigan raised its position in City Holding Company by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,320 shares of the company’s stock worth $167,000 after buying an additional 50 shares during the last quarter. Miles Capital Inc. acquired a new position in City Holding Company during the fourth quarter worth $220,000. TD Asset Management Inc. acquired a new position in City Holding Company during the third quarter worth $246,000. BlackRock Inc. raised its position in City Holding Company by 2.9% in the third quarter. BlackRock Inc. now owns 5,468 shares of the company’s stock worth $275,000 after buying an additional 152 shares during the last quarter. Finally, Stevens Capital Management LP raised its position in City Holding Company by 3.4% in the third quarter. Stevens Capital Management LP now owns 5,846 shares of the company’s stock worth $294,000 after buying an additional 192 shares during the last quarter. 61.13% of the stock is currently owned by institutional investors and hedge funds.

About City Holding Company

City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.

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