Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified City National as such a stock due to the following factors:
- CYN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $24.3 million.
- CYN has traded 272,609 shares today.
- CYN is trading at a new lifetime high.
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More details on CYN:
City National Corporation operates as the bank holding company for City National Bank that provides various banking, trust, and investment services to small to mid-sized businesses, entrepreneurs, professionals, and individuals. The stock currently has a dividend yield of 1.3%. CYN has a PE ratio of 19.9. Currently there are 4 analysts that rate City National a buy, 2 analysts rate it a sell, and 12 rate it a hold.
The average volume for City National has been 264,300 shares per day over the past 30 days. City has a market cap of $4.2 billion and is part of the financial sector and banking industry. The stock has a beta of 1.51 and a short float of 6.5% with 9.83 days to cover. Shares are up 57.1% year-to-date as of the close of trading on Friday.
rates City National as a
. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
Highlights from the ratings report include:
- CITY NATIONAL CORP reported flat earnings per share in the most recent quarter. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, CITY NATIONAL CORP increased its bottom line by earning $3.84 versus $3.21 in the prior year. This year, the market expects an improvement in earnings ($4.10 versus $3.84).
- The gross profit margin for CITY NATIONAL CORP is currently very high, coming in at 94.85%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, CYN's net profit margin of 20.07% significantly trails the industry average.
- Compared to its closing price of one year ago, CYN's share price has jumped by 55.62%, exceeding the performance of the broader market during that same time frame. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
- CYN, with its decline in revenue, slightly underperformed the industry average of 0.3%. Since the same quarter one year prior, revenues slightly dropped by 4.5%. Weakness in the company's revenue seems to not be hurting the bottom line, shown by stable earnings per share.
- The company, on the basis of net income growth from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and the Commercial Banks industry average. The net income increased by 6.4% when compared to the same quarter one year prior, going from $59.78 million to $63.63 million.
- You can view the full City National Ratings Report.