Standpoint Research Downgrades City Holding (CHCO) to Hold

Standpoint Research downgraded City Holding (NASDAQ: CHCO) from Buy to Hold.

The firm comments, "At Standpoint Research we usually will drop a name when the probability is low that the name will continue to rise and outperform the S&P-500 in the near-term.... We are downgrading CHCO at this time. At 13X earnings, with a 16.1% gain and + 1900 bps versus the S&P we can no longer leave our highest recommendation attached to this name.... Odds are that it will either decline from here (in a declining market) or underperform (in a rising market) as opposed to rising further and out-performing the S&P-500.

For an analyst ratings summary and ratings history on City Holding click here. For more ratings news on City Holding click here.

Shares of City Holding closed at $34.55 yesterday, with a 52 week range of $25.64-$38.68.

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