City (NASDAQ:CHCO) Rating Reiterated by Keefe, Bruyette & Woods

City (NASDAQ:CHCO)‘s stock had its “market perform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, Benzinga reports. They presently have a $110.00 price objective on the bank’s stock, up from their previous price objective of $100.00. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 3.89% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Piper Sandler raised their price objective on City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Stephens increased their price objective on City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th.

City Stock Performance

Shares of CHCO stock traded down $0.26 on Thursday, hitting $105.88. The company’s stock had a trading volume of 5,787 shares, compared to its average volume of 61,040. The company has a market capitalization of $1.57 billion, a PE ratio of 13.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. City has a fifty-two week low of $82.53 and a fifty-two week high of $115.89. The stock’s 50 day moving average is $101.66 and its 200-day moving average is $101.04.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The firm had revenue of $86.10 million for the quarter, compared to analyst estimates of $72.50 million. City had a net margin of 33.78% and a return on equity of 18.31%. Equities research analysts expect that City will post 7.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other City news, Director Charles W. Fairchilds sold 600 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $106.00, for a total value of $63,600.00. Following the sale, the director now owns 2,014 shares in the company, valued at approximately $213,484. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Charles W. Fairchilds sold 600 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.00, for a total transaction of $63,600.00. Following the completion of the sale, the director now directly owns 2,014 shares of the company’s stock, valued at approximately $213,484. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the completion of the transaction, the chief executive officer now owns 53,218 shares of the company’s stock, valued at approximately $5,375,018. The disclosure for this sale can be found here. Insiders sold 10,808 shares of company stock worth $1,094,935 in the last three months. 2.45% of the stock is owned by insiders.

Hedge Funds Weigh In On City

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in City during the 3rd quarter valued at approximately $806,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in City by 28.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock valued at $323,000 after buying an additional 789 shares during the period. Teacher Retirement System of Texas increased its stake in City by 2.8% in the third quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after purchasing an additional 301 shares in the last quarter. Victory Capital Management Inc. grew its position in City by 21.4% in the third quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock valued at $818,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in City in the third quarter valued at $407,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Company Profile

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.