City (NASDAQ:CHCO) Stock Rating Upgraded by Wall Street Zen

City (NASDAQ:CHCO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a report on Wednesday, October 8th. DA Davidson boosted their price objective on City from $128.00 to $137.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Hovde Group upped their target price on City from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Finally, Zacks Research lowered City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $133.25.

City Price Performance

NASDAQ:CHCO opened at $120.29 on Friday. The firm has a market cap of $1.74 billion, a P/E ratio of 13.83 and a beta of 0.54. The stock has a 50 day moving average of $123.02 and a two-hundred day moving average of $122.19. City has a 12 month low of $102.22 and a 12 month high of $137.28. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.26. City had a return on equity of 16.66% and a net margin of 32.33%.The firm had revenue of $81.26 million for the quarter, compared to analyst estimates of $80.17 million. On average, analysts expect that City will post 7.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On City

Hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. increased its stake in City by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank’s stock worth $74,192,000 after purchasing an additional 123,394 shares during the period. Nuveen LLC purchased a new position in City in the 1st quarter valued at approximately $4,883,000. Charles Schwab Investment Management Inc. grew its stake in shares of City by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank’s stock worth $68,139,000 after acquiring an additional 29,302 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of City by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after acquiring an additional 22,536 shares during the period. Finally, TrueMark Investments LLC acquired a new stake in shares of City in the second quarter valued at $2,249,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

About City

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.