City (NASDAQ:CHCO) Earns Buy (B) Rating from Weiss Ratings

Key Points

• City Holdings has received a "buy (B)" rating from Weiss Ratings, reaffirming positive outlook amidst mixed reviews from other research firms.
• The stock was trading at $122.19 recently, with target prices ranging from $135.00 to $137.00 from different analysts.
• City reported $2.29 earnings per share in its last quarter, exceeding analysts' expectations of $1.97.

City (NASDAQ:CHCO - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also issued reports on CHCO. Keefe, Bruyette & Woods raised their price target on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Zacks Research lowered City from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Wall Street Zen lowered City from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Hovde Group lifted their target price on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Finally, DA Davidson lifted their target price on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $133.25.

City Price Performance

Shares of CHCO traded down $0.42 during mid-day trading on Wednesday, reaching $122.19. The company had a trading volume of 79,168 shares, compared to its average volume of 86,809. City has a twelve month low of $102.22 and a twelve month high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50-day moving average is $124.74 and its 200-day moving average is $121.26. The company has a market capitalization of $1.77 billion, a P/E ratio of 14.70 and a beta of 0.53.

City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.32. City had a return on equity of 16.30% and a net margin of 31.35%.The business had revenue of $78.16 million during the quarter, compared to analysts' expectations of $76.10 million. On average, equities analysts anticipate that City will post 7.58 EPS for the current year.

Insider Buying and Selling

In other City news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $131.12, for a total transaction of $131,120.00. Following the completion of the sale, the executive vice president directly owned 1,830 shares in the company, valued at $239,949.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $131.06, for a total value of $327,650.00. Following the sale, the executive vice president owned 7,037 shares of the company's stock, valued at $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 305 shares of company stock worth $38,750 in the last three months. 1.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On City

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its stake in City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock worth $46,000 after purchasing an additional 198 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of City by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 49,418 shares of the bank's stock valued at $6,050,000 after acquiring an additional 2,842 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of City by 24.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,171 shares of the bank's stock valued at $266,000 after acquiring an additional 420 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of City by 28.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank's stock valued at $61,000 after acquiring an additional 110 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in shares of City by 28.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 10,208 shares of the bank's stock valued at $1,250,000 after acquiring an additional 2,260 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

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.

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