Piper Sandler Forecasts Strong Price Appreciation for City (NASDAQ:CHCO) Stock

City (NASDAQ:CHCO) had its price target increased by equities research analysts at Piper Sandler from $125.00 to $130.00 in a research note issued on Friday, Marketbeat reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 6.94% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a report on Tuesday, December 23rd. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, City presently has an average rating of “Hold” and a consensus target price of $134.50.

City Price Performance

Shares of NASDAQ CHCO opened at $121.56 on Friday. City has a fifty-two week low of $102.22 and a fifty-two week high of $133.59. The company has a market cap of $1.75 billion, a PE ratio of 13.60 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.83. The business has a 50-day simple moving average of $122.60 and a two-hundred day simple moving average of $123.30.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). The company had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. City had a net margin of 32.56% and a return on equity of 16.61%. As a group, equities analysts expect that City will post 7.58 EPS for the current fiscal year.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $120.68, for a total transaction of $243,411.56. Following the sale, the chief executive officer directly owned 50,359 shares of the company’s stock, valued at approximately $6,077,324.12. This trade represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.87% of the company’s stock.

Institutional Trading of City

Hedge funds have recently modified their holdings of the stock. Apollon Wealth Management LLC grew its holdings in City by 4.2% during the fourth quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock worth $238,000 after acquiring an additional 81 shares during the period. SG Americas Securities LLC boosted its position in City by 23.4% in the 4th quarter. SG Americas Securities LLC now owns 11,026 shares of the bank’s stock worth $1,314,000 after purchasing an additional 2,090 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of City by 79.7% during the 4th quarter. GAMMA Investing LLC now owns 1,091 shares of the bank’s stock worth $130,000 after purchasing an additional 484 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of City by 11.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after purchasing an additional 22,536 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of City by 63.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.