City (NASDAQ:CHCO) Raised to “Hold” at StockNews.com

City (NASDAQ:CHCOGet Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

A number of other analysts also recently issued reports on CHCO. Janney Montgomery Scott assumed coverage on shares of City in a report on Tuesday, September 6th. They set a “neutral” rating and a $91.00 price target on the stock. DA Davidson reissued a “neutral” rating on shares of City in a report on Wednesday, July 27th.

City Stock Up 0.5 %

Shares of NASDAQ CHCO opened at $88.53 on Wednesday. The firm’s 50-day moving average price is $85.70 and its 200-day moving average price is $81.52. The company has a market cap of $1.32 billion, a PE ratio of 14.93 and a beta of 0.57. City has a 52-week low of $72.29 and a 52-week high of $90.96.

City (NASDAQ:CHCOGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.21. The firm had revenue of $59.46 million for the quarter, compared to the consensus estimate of $56.70 million. City had a net margin of 37.91% and a return on equity of 13.93%. As a group, equities research analysts anticipate that City will post 6.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David L. Bumgarner sold 375 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $86.54, for a total value of $32,452.50. Following the transaction, the chief financial officer now owns 9,572 shares of the company’s stock, valued at $828,360.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On City

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHCO. Bank of America Corp DE raised its stake in City by 16.2% during the 4th quarter. Bank of America Corp DE now owns 84,192 shares of the bank’s stock worth $6,887,000 after acquiring an additional 11,762 shares during the period. Teacher Retirement System of Texas bought a new stake in City during the 4th quarter worth approximately $243,000. Citigroup Inc. raised its stake in City by 37.0% during the 4th quarter. Citigroup Inc. now owns 12,023 shares of the bank’s stock worth $984,000 after acquiring an additional 3,249 shares during the period. Charles Schwab Investment Management Inc. raised its stake in City by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 292,582 shares of the bank’s stock worth $23,930,000 after acquiring an additional 11,373 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in City during the 4th quarter worth approximately $205,000. Institutional investors own 67.34% of the company’s stock.

About City

(Get Rating)

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.

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