Fintel reports that on October 30, 2023, Piper Sandler maintained coverage of City Holding (NASDAQ:CHCO) with a Neutral recommendation.
Analyst Price Forecast Suggests 9.44% Upside
As of October 5, 2023, the average one-year price target for City Holding is 100.64. The forecasts range from a low of 95.95 to a high of $106.05. The average price target represents an increase of 9.44% from its latest reported closing price of 91.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for City Holding is 289MM, an increase of 0.52%. The projected annual non-GAAP EPS is 7.26.
City Holding Declares $0.72 Dividend
On September 27, 2023 the company declared a regular quarterly dividend of $0.72 per share ($2.86 annualized). Shareholders of record as of October 13, 2023 will receive the payment on October 31, 2023. Previously, the company paid $0.65 per share.
At the current share price of $91.96 / share, the stock's dividend yield is 3.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.01%, the lowest has been 2.55%, and the highest has been 4.05%. The standard deviation of yields is 0.32 (n=236).
The current dividend yield is 0.31 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 436 funds or institutions reporting positions in City Holding. This is an increase of 2 owner(s) or 0.46% in the last quarter. Average portfolio weight of all funds dedicated to CHCO is 0.13%, a decrease of 8.52%. Total shares owned by institutions increased in the last three months by 1.02% to 12,352K shares. 
The put/call ratio of CHCO is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,051K shares representing 7.05% ownership of the company. In it's prior filing, the firm reported owning 1,015K shares, representing an increase of 3.46%. The firm decreased its portfolio allocation in CHCO by 0.67% over the last quarter.
Westwood Holdings Group holds 626K shares representing 4.20% ownership of the company. In it's prior filing, the firm reported owning 651K shares, representing a decrease of 3.97%. The firm decreased its portfolio allocation in CHCO by 5.20% over the last quarter.
Macquarie Group holds 569K shares representing 3.82% ownership of the company. In it's prior filing, the firm reported owning 561K shares, representing an increase of 1.29%. The firm increased its portfolio allocation in CHCO by 2.77% over the last quarter.
DCCAX - Delaware Small Cap Core Fund holds 440K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 469K shares, representing a decrease of 6.56%. The firm decreased its portfolio allocation in CHCO by 8.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 433K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 429K shares, representing an increase of 1.09%. The firm decreased its portfolio allocation in CHCO by 7.63% over the last quarter.
City Holding Background Information
(This description is provided by the company.)
City Holding Company is a multi-bank holding company. The Banks provide diversified financial products and services to consumers and local businesses in West Virginia, Ohio, and California. City Holding provides credit, deposit, investment advisory, securities brokerage, insurance, and technology products and services.
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