BlackRock Fund Advisors recently announced the acquisition of new stake in City Holding Company (NASDAQ:CHCO). The institutional investor has increased its shareholding in the Financial company by 0.37% to 2.06 million shares with purchase of 7646.0 shares. This fresh investment now brings its stake to 13.90% valued currently at $192.16 million. In addition, The Vanguard Group, Inc. raised its holdings by 22518.0 to 1.66 million shares. And Macquarie Investment Management B has lifted its position by 1.44% or 8873.0 shares – to 0.62 million shares.
With over 95369.0 City Holding Company (CHCO) shares trading Tuesday and a closing price of $93.55 on the day, the dollar volume was approximately $8.92 million. The shares have shown a positive half year performance of 10.15% and its price on 01/24/23 gained nearly 4.68%. Currently, there are 14.78M common shares owned by the public and among those 14.24M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for CHCO have a consensus price objective of $94.50. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $90.00. The average price target is 1.01% above its recent price level and a downside to the estimated low will see the stock lose -3.94% over that period. But an upside of 6.45% will see the stock hit the forecast high price target while median target price for the stock is $94.00.
Insiders at the company have transacted a total of 62 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 22,277 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 26,168 shares.
The top 3 mutual fund holders in City Holding Company are iShares Core S&P Small Cap ETF, Delaware Small Cap Core Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 0.99 million shares of the company’s stock, all valued at over $92.21 million. Delaware Small Cap Core Fund bought 3997.0 shares to see its total holdings expand to 0.51 million shares valued at over $47.1 million and representing 3.41% of the shares outstanding. Vanguard Total Stock Market Index bought 8000.0 shares to bring its total holdings to over 0.43 million shares at a value of $39.89 million. Vanguard Total Stock Market Index now owns shares totaling to 2.89% of the shares outstanding.
Shares of City Holding Company (NASDAQ: CHCO) opened at $90.18, up $0.81 from a prior closing price of $89.37. However, the script later moved the day high at 94.06, up 4.68%. The company’s stock has a 5-day price change of 0.38% and -7.07% over the past three months. CHCO shares are trading 0.49% year to date (YTD), with the 12-month market performance up to 17.27% higher. It has a 12-month low price of $73.40 and touched a high of $103.00 over the same period. CHCO has an average intraday trading volume of 73.28K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.43%, -1.65%, and 6.96% respectively.
Institutional ownership of City Holding Company (NASDAQ: CHCO) shares accounts for 68.30% of the company’s 14.78M shares outstanding. Mutual fund holders own 48.48%, while other institutional holders and individual stakeholders account for 8.77% and 21.07% respectively.
It has a market capitalization of $1.38B and a beta (3y monthly) value of 0.55. The stock’s trailing 12-month PE ratio is 14.83, while the earnings-per-share (ttm) stands at $6.31. The company has a PEG of 1.85 and the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.61% over the week and 1.79% over the month.
Analysts forecast that City Holding Company (CHCO) will achieve an EPS of $1.87 for the current quarter, $1.76 for the next quarter and $7.12 for 2023. The lowest estimate earnings-per-share for the quarter is $1.81 while analysts give the company a high EPS estimate of $1.93. Comparatively, EPS for the current quarter was $1.54 a year ago. Earnings per share for the fiscal year are expected to increase by 2.10%, and 7.36% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 10.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate City Holding Company (CHCO) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CHCO, a number of firms have released research notes about the stock. Janney stated their Neutral rating for the stock in a research note on September 06, 2022, with the firm’s price target at $91. Piper Sandler was of a view on July 09, 2020 that the stock is Neutral, while Stephens gave the stock Equal-Weight rating on January 07, 2020, issuing a price target of $83.50. Hovde Group on their part issued Market Perform rating on June 03, 2019.