Brokerages Set City Holding Company (NASDAQ:CHCO) Target Price at $134.50

City Holding Company (NASDAQ:CHCO) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $134.50.

A number of analysts recently commented on the stock. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Piper Sandler upped their target price on City from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd.

Insider Activity at City

In other news, CEO Charles R. Hageboeck sold 2,017 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $120.68, for a total value of $243,411.56. Following the sale, the chief executive officer owned 50,359 shares in the company, valued at $6,077,324.12. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On City

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of City by 5.6% during the 1st quarter. Royal Bank of Canada now owns 15,586 shares of the bank’s stock valued at $1,831,000 after buying an additional 821 shares during the last quarter. AQR Capital Management LLC grew its holdings in City by 34.5% during the first quarter. AQR Capital Management LLC now owns 8,977 shares of the bank’s stock worth $1,055,000 after acquiring an additional 2,305 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in City by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock valued at $1,014,000 after acquiring an additional 387 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in City in the first quarter valued at approximately $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in City by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank’s stock worth $4,497,000 after purchasing an additional 2,603 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Trading Up 0.8%

NASDAQ:CHCO opened at $123.09 on Wednesday. The firm has a 50-day simple moving average of $122.84 and a 200-day simple moving average of $123.17. City has a one year low of $102.22 and a one year high of $133.59. The firm has a market cap of $1.77 billion, a P/E ratio of 13.77 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.

City (NASDAQ:CHCO) last released its quarterly earnings results 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). City had a return on equity of 16.61% and a net margin of 32.56%.The firm had revenue of $60.83 million during the quarter, compared to analysts’ expectations of $81.38 million. Equities analysts anticipate that City will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. City’s dividend payout ratio (DPR) is currently 38.93%.

About City

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.