Is Buying Stock Like City Holding Company (CHCO) After This Bullish Wedge Up a Winning Strategy?

September 8, 2018 - By Carolyn Hewitt

City Holding Company (NASDAQ:CHCO) Logo

Investors sentiment increased to 1.62 in 2018 Q1. Its up 0.62, from 1 in 2017Q4. It improved, as 4 investors sold City Holding Company shares while 35 reduced holdings. 18 funds opened positions while 45 raised stakes. 10.20 million shares or 3.08% less from 10.53 million shares in 2017Q4 were reported.
3,710 are held by Neuberger Berman Grp Inc Ltd Liability Co. Creative Planning owns 14,003 shares. Texas Permanent School Fund holds 0.01% or 10,267 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) invested 0% of its portfolio in City Holding Company (NASDAQ:CHCO). Moreover, Us National Bank De has 0% invested in City Holding Company (NASDAQ:CHCO) for 1,389 shares. Comerica Bancorp accumulated 16,272 shares or 0.01% of the stock. Morgan Stanley reported 49,265 shares stake. Ny State Common Retirement Fund invested in 16,500 shares. Comml Bank Of Mellon Corp holds 0% or 259,523 shares. Tower Limited Co (Trc) reported 0% stake. Royal Bank Of Canada invested in 0% or 48,178 shares. 10,344 were accumulated by Citigroup Inc. Schroder Investment Mngmt Group invested in 7,551 shares or 0% of the stock. Goldman Sachs Group Inc accumulated 60,591 shares or 0% of the stock. Cornerstone Advsrs holds 16 shares or 0% of its portfolio.

Since April 18, 2018, it had 1 insider purchase, and 13 insider sales for $2.53 million activity. Shares for $180,000 were sold by DERITO JOHN A on Tuesday, May 1. $7,429 worth of stock was bought by STRONG-TREISTER DIANE W on Thursday, May 31. Another trade for 325 shares valued at $26,254 was made by LEGGE JEFFREY DALE on Wednesday, August 1. BUMGARNER DAVID L had sold 1,856 shares worth $137,808 on Monday, April 23. HAGEBOECK CHARLES R had sold 7,707 shares worth $554,980. ROWE SHARON HORTON sold $72 worth of stock or 1 shares.

The stock of City Holding Company (CHCO) formed an up wedge with $87.53 target or 9.00 % above today’s $80.30 share price. The 9 months wedge indicates low risk for the $1.24B company. If the $87.53 price target is reached, the company will be worth $111.69 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.42% or $0.34 during the last trading session, reaching $80.3. About 43,906 shares traded. City Holding Company (NASDAQ:CHCO) has risen 15.29% since September 8, 2017 and is uptrending. It has outperformed by 2.72% the S&P500.

Analysts await City Holding Company (NASDAQ:CHCO) to report earnings on October, 17. They expect $1.19 EPS, up 33.71 % or $0.30 from last year’s $0.89 per share. CHCO’s profit will be $18.39M for 16.87 P/E if the $1.19 EPS becomes a reality. After $1.35 actual EPS reported by City Holding Company for the previous quarter, Wall Street now forecasts -11.85 % negative EPS growth.

City Holding Company operates as a holding firm 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 has market cap of $1.24 billion. The firm accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts. It has a 20.19 P/E ratio. It also provides commercial and industrial loans that consist of loans to corporate and other legal entity borrowers primarily in small to mid-size industrial and commercial companies; commercial real estate loans comprising commercial mortgages, which are secured by nonresidential and multi-family residential properties; residential real estate loans to clients for the purchase or refinance of a residence; first-lien home equity loans; consumer loans that are secured and unsecured by automobiles, boats, recreational vehicles, certificates of deposit, and other personal property; and demand deposit account overdrafts.

City Holding Company (NASDAQ:CHCO) Institutional Positions Chart

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