Overview

• U.S. regional bank's Q2 net income and EPS rose year-over-year

• Company repurchased 59,156 shares in Q2 under buyback program

Outlook

• Company did not provide specific guidance for the current or future periods in its press release

Result Drivers

• NET INTEREST INCOME - Modest increase driven by higher loan yields and greater average deposit balances, partially offset by higher interest-bearing liabilities

• NON-INTEREST INCOME - Growth led by higher wealth and investment management fees, service charges, and bankcard revenue

• CREDIT LOSS PROVISION - Small provision mainly related to downgrade of a commercial real estate loan and higher loss rates in commercial and industrial loans, partially offset by net recoveries

Company press release: ID:nBw9dd5Dla

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Net Interest Income		$60.76 mln
Q2 Provision for (Recovery of) credit losses		$436,000

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for City Holding Co is $132.00, about 2.2% below its July 21 closing price of $134.99

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• July 22 - Old National Bancorp's Q2 net income hits record on loan growth

• July 22 - Fidelity D & D Bancorp Q2 profit lifted by higher interest income

• July 22 - BankUnited Q2 profit up 3% on higher fee income

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