City (NASDAQ:CHCO) Price Target Cut to $125.00 by Analysts at Piper Sandler

City (NASDAQ:CHCO) had its target price reduced by equities researchers at Piper Sandler from $135.00 to $125.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 7.45% from the stock’s current price.

Separately, Keefe, Bruyette & Woods increased their price objective on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

City Trading Down 2.1 %

Shares of CHCO traded down $2.46 during midday trading on Friday, hitting $116.33. The stock had a trading volume of 18,177 shares, compared to its average volume of 64,249. City has a fifty-two week low of $97.50 and a fifty-two week high of $137.28. The business has a 50-day simple moving average of $124.25 and a two-hundred day simple moving average of $119.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.71 billion, a P/E ratio of 14.94 and a beta of 0.51.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a net margin of 31.18% and a return on equity of 16.60%. As a group, equities analysts forecast that City will post 7.85 EPS for the current year.

Insider Buying and Selling

In other news, EVP John A. Derito sold 1,243 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at $3,937,696.01. This trade represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Dallas Kayser sold 1,784 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares of the company’s stock, valued at approximately $3,151,521.21. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,092 shares of company stock worth $1,196,697. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On City

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of City by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock valued at $1,018,000 after acquiring an additional 137 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after purchasing an additional 176 shares during the period. Inspire Investing LLC lifted its stake in shares of City by 6.8% in the third quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock worth $410,000 after buying an additional 222 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in City by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock valued at $792,000 after buying an additional 285 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in City by 14.8% in the 3rd quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock worth $263,000 after acquiring an additional 290 shares during the period. 72.43% of the stock is currently owned by institutional investors.

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.