City (NASDAQ:CHCO) Rating Reiterated by Keefe, Bruyette & Woods

City (NASDAQ:CHCO)‘s stock had its “market perform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $110.00 target price on the bank’s stock, up from their previous target price of $100.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 5.66% from the stock’s current price.

Several other brokerages have also commented on CHCO. Stephens raised their price objective on shares of City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Piper Sandler raised their price objective on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st.

City Stock Down 1.0 %

NASDAQ CHCO opened at $104.11 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market capitalization of $1.55 billion, a PE ratio of 13.10 and a beta of 0.51. City has a 1 year low of $82.53 and a 1 year high of $115.89. The business’s 50-day moving average is $101.79 and its 200 day moving average is $101.11.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.06). The business had revenue of $86.10 million during the quarter, compared to the consensus estimate of $72.50 million. City had a return on equity of 18.31% and a net margin of 33.78%. Sell-side analysts forecast that City will post 7.51 earnings per share for the current year.

Insider Activity

In other news, EVP John A. Derito sold 1,309 shares of City stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares in the company, valued at $2,897,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total transaction of $898,799.00. Following the completion of the transaction, the chief executive officer now directly owns 53,218 shares in the company, valued at $5,375,018. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Derito sold 1,309 shares of City stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total transaction of $132,536.25. Following the transaction, the executive vice president now owns 28,620 shares of the company’s stock, valued at $2,897,775. The disclosure for this sale can be found here. Company insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On City

Several large investors have recently made changes to their positions in CHCO. McGlone Suttner Wealth Management Inc. purchased a new position in City in the 4th quarter worth approximately $38,000. Federated Hermes Inc. raised its holdings in City by 28.0% in the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after acquiring an additional 249 shares during the last quarter. CIC Wealth LLC purchased a new position in City in the 4th quarter worth approximately $210,000. Quantbot Technologies LP raised its holdings in City by 206.2% in the 3rd quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after acquiring an additional 1,330 shares during the last quarter. Finally, Lido Advisors LLC purchased a new position in City in the 3rd quarter worth approximately $237,000. 72.43% of the stock is currently owned by hedge funds and other 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.