City (NASDAQ:CHCO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

City (NASDAQ:CHCO) had its price target boosted by analysts at Keefe, Bruyette & Woods from $120.00 to $130.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 0.87% from the stock’s current price.

Separately, Piper Sandler restated a “neutral” rating and issued a $135.00 price objective on shares of City in a research report on Friday, November 8th.

City Trading Up 0.7 %

Shares of City stock traded up $0.94 on Wednesday, hitting $131.14. 3,250 shares of the company’s stock traded hands, compared to its average volume of 56,333. The firm’s 50-day moving average price is $122.54 and its two-hundred day moving average price is $115.32. The stock has a market capitalization of $1.93 billion, a PE ratio of 16.83 and a beta of 0.49. City has a one year low of $97.50 and a one year high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10. The company had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, research analysts expect that City will post 7.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the transaction, the chief executive officer now directly owns 44,974 shares in the company, valued at $5,847,969.22. This represents a 11.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Derito sold 1,243 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the transaction, the executive vice president now owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,092 shares of company stock worth $1,196,697. Corporate insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On City

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in City by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after purchasing an additional 10,740 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in City by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock valued at $62,044,000 after purchasing an additional 15,910 shares during the last quarter. Geode Capital Management LLC lifted its stake in City by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock valued at $41,792,000 after purchasing an additional 1,065 shares during the last quarter. Leeward Investments LLC MA lifted its stake in City by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock valued at $9,452,000 after purchasing an additional 4,725 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in City by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after purchasing an additional 4,989 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.