City (NASDAQ:CHCO) Price Target Raised to $143.00 at Hovde Group

City (NASDAQ:CHCO) had its price objective upped by Hovde Group from $135.00 to $143.00 in a research note published on Monday morning, Marketbeat reports. Hovde Group currently has a market perform rating on the bank’s stock.

Separately, Weiss Ratings upgraded City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $136.50.

City Stock Performance

Shares of NASDAQ CHCO opened at $143.90 on Monday. City has a 1 year low of $113.21 and a 1 year high of $144.56. The firm has a market cap of $2.03 billion, a P/E ratio of 15.74 and a beta of 0.49. The stock has a fifty day moving average price of $130.40 and a two-hundred day moving average price of $125.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. City had a return on equity of 16.38% and a net margin of 32.58%.The company had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. Research analysts forecast that City will post 8.99 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. City’s dividend payout ratio is currently 38.07%.

Insider Transactions at City

In other City news, EVP Jeffrey Dale Legge sold 1,309 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the transaction, the executive vice president owned 7,656 shares in the company, valued at approximately $957,000. This represents a 14.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the sale, the chief financial officer owned 10,666 shares of the company’s stock, valued at approximately $1,327,917. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,535 shares of company stock valued at $689,777 over the last three months. 1.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On City

A number of institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL raised its holdings in shares of City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after acquiring an additional 29,828 shares in the last quarter. Virtu Financial LLC purchased a new position in City in the fourth quarter valued at about $1,353,000. Louisiana State Employees Retirement System acquired a new position in City in the 1st quarter worth about $765,000. Pictet Asset Management Holding SA acquired a new position in City in the 4th quarter worth about $239,000. Finally, R Squared Ltd raised its stake in shares of City by 6.6% during the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank’s stock worth $254,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds 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.