City (NASDAQ:CHCO) Price Target Lowered to $99.00 at Stephens

City (NASDAQ:CHCO) had its price target lowered by Stephens from $100.00 to $99.00 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $110.00 target price (up from $100.00) on shares of City in a research note on Thursday. Piper Sandler raised their target price on shares of City from $103.00 to $105.00 and gave the company a neutral rating in a research note on Thursday, February 1st.

City Stock Performance

Shares of CHCO opened at $105.21 on Thursday. The company’s fifty day moving average is $101.76 and its 200-day moving average is $101.08. City has a 12 month low of $82.53 and a 12 month high of $115.89. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 13.23 and a beta of 0.51. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). City had a net margin of 33.78% and a return on equity of 18.31%. The firm had revenue of $86.10 million during the quarter, compared to analyst estimates of $72.50 million. Equities analysts expect that City will post 7.51 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, April 12th. City’s payout ratio is 35.97%.

Insider Transactions at City

In related news, EVP John A. Derito sold 1,309 shares of City stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares of the company’s stock, valued at approximately $2,897,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other City news, CEO Charles R. Hageboeck sold 8,899 shares of the business’s 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 directly owns 53,218 shares of the company’s stock, valued at $5,375,018. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John A. Derito sold 1,309 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares of the company’s stock, valued at $2,897,775. The disclosure for this sale can be found here. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On City

Several institutional investors have recently modified their holdings of CHCO. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of City during the 4th quarter worth approximately $38,000. Federated Hermes Inc. grew its holdings in City by 28.0% during the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after purchasing an additional 249 shares during the period. Quantbot Technologies LP grew its holdings in City by 206.2% during the third quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock valued at $178,000 after purchasing an additional 1,330 shares during the period. CIC Wealth LLC acquired a new position in City during the fourth quarter valued at approximately $210,000. Finally, Lido Advisors LLC bought a new position in City in the third quarter valued at approximately $237,000. Institutional investors and hedge funds 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.