City Holding Q2 Net Interest Income Rises to $60.8M on Higher Loan Yields
CHCO sits 19% above its 52-week low of $113.21.
Summary
City Holding posted Q2 net interest income of $60.76 million, up modestly on improved loan yields and higher deposit balances. Non-interest income also grew, driven by wealth management fees and bankcard revenue. A small $436,000 credit loss provision was tied to a CRE loan downgrade, partially offset by recoveries. The bank repurchased 59,156 shares during the quarter, continuing its active buyback program. This follows a strong Q1 and a new 1-million-share authorization in May. With the stock trading near its 52-week high and above the median analyst target of $132, the results reinforce the positive earnings trend but leave limited upside surprise.
At the time of this announcement, CHCO was trading at $134.99 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $113.21 to $138.18. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.