How did CHCO's Q4 earnings surprise impact investor sentiment?

City Holding's (CHCO) Q4 earnings surprise had a positive impact on investor sentiment, as evidenced by the following factors:

1. **Earnings Surprise**: CHCO reported quarterly earnings of $2.02 per share, surpassing the Zacks Consensus Estimate of $1.92 per share. This positive surprise indicates that the company's performance for the quarter was better than expected.
2. **Revenue Performance**: Although there is no specific information about revenue in the Q4 earnings report, the fact that CHCO topped both earnings and revenue estimates suggests a strong financial performance for the period.
3. **Market Reaction**: The market often rewards companies that exceed earnings expectations with a positive reaction in the stock price. Given that CHCO's earnings exceeded expectations, it is reasonable to assume that investor sentiment was positive following the earnings release.
4. **Investor Sentiment Indicators**: The lack of negative news or indicators related to investor sentiment in the immediate aftermath of the earnings release supports the notion that the positive surprise had a beneficial impact on investor confidence in the company.

In conclusion, CHCO's Q4 earnings surprise, coupled with the company's strong revenue performance and market reaction, likely contributed to a positive sentiment among investors.