City (NASDAQ:CHCO) Price Target Raised to $113.00 at Hovde Group

City (NASDAQ:CHCO) had its target price raised by Hovde Group from $110.00 to $113.00 in a research report released on Thursday morning, MarketBeat reports. The firm currently has a market perform rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods restated a market perform rating and set a $110.00 price objective (up previously from $100.00) on shares of City in a report on Thursday, April 25th. Piper Sandler boosted their price target 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. Finally, Stephens dropped their price objective on shares of City from $100.00 to $99.00 and set an equal weight rating on the stock in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $106.75.

City Stock Down 0.3 %

Shares of CHCO traded down $0.29 during trading hours on Thursday, hitting $104.47. The stock had a trading volume of 60,433 shares, compared to its average volume of 58,936. The firm has a 50 day simple moving average of $102.01 and a 200-day simple moving average of $101.66. City has a 1-year low of $82.53 and a 1-year high of $115.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $1.55 billion, a P/E ratio of 13.14 and a beta of 0.50.

City Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a dividend of $0.715 per share. The ex-dividend date was Friday, April 12th. This represents a $2.86 annualized dividend and a yield of 2.74%. City’s dividend payout ratio (DPR) is currently 35.97%.

Insider Activity at City

In other news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the sale, the executive vice president now owns 3,400 shares in the company, valued at approximately $356,116. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.02, for a total transaction of $262,550.00. Following the completion of the sale, the chief accounting officer now directly owns 7,194 shares of the company’s stock, valued at $755,513.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the transaction, the executive vice president now directly owns 3,400 shares in the company, valued at approximately $356,116. The disclosure for this sale can be found here. In the last three months, insiders sold 15,980 shares of company stock valued at $1,634,286. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On City

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in City during the third quarter valued at about $806,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 acquiring an additional 789 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of City by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after acquiring an additional 301 shares during the period. Victory Capital Management Inc. increased its stake in shares of City by 21.4% during the 3rd quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock worth $818,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of City in the 3rd quarter worth approximately $407,000. 72.43% of the stock is currently owned by institutional investors.

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.