City (NASDAQ:CHCO) Downgraded by Wall Street Zen to Sell

City (NASDAQ:CHCO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other research firms also recently weighed in on CHCO. Hovde Group increased their target price on City from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. DA Davidson increased their price objective on shares of City from $128.00 to $137.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of City in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Finally, Zacks Research downgraded shares of City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, City has a consensus rating of “Hold” and an average price target of $133.25.

City Price Performance

CHCO stock opened at $120.59 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. The stock’s 50 day moving average price is $122.25 and its 200 day moving average price is $122.37. The firm has a market cap of $1.74 billion, a P/E ratio of 13.86 and a beta of 0.54. City has a 1 year low of $102.22 and a 1 year high of $137.28.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.26. The firm had revenue of $61.29 million during the quarter, compared to the consensus estimate of $80.17 million. City had a net margin of 32.33% and a return on equity of 16.66%. On average, sell-side analysts expect that City will post 7.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On City

Large investors have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of City by 43.9% during the first quarter. CWM LLC now owns 282 shares of the bank’s stock valued at $33,000 after purchasing an additional 86 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares during the period. EverSource Wealth Advisors LLC grew its stake in City by 463.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $52,000 after buying an additional 352 shares during the last quarter. Smartleaf Asset Management LLC increased its position in City by 28.4% in the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after buying an additional 110 shares during the period. Finally, GAMMA Investing LLC lifted its stake in City by 69.0% in the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock valued at $67,000 after buying an additional 223 shares during the last quarter. Institutional investors 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.