City (NASDAQ:CHCO) Given New $137.00 Price Target at DA Davidson

City (NASDAQ:CHCO - Get Free Report) had its price target raised by stock analysts at DA Davidson from $128.00 to $137.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. DA Davidson's price target suggests a potential upside of 8.16% from the stock's current price.

A number of other research firms have also issued reports on CHCO. Hovde Group upped their target price on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, City presently has a consensus rating of "Hold" and a consensus price target of $133.25.

City Price Performance

CHCO traded down $1.00 during midday trading on Thursday, hitting $126.66. 100,020 shares of the company traded hands, compared to its average volume of 82,305. The company has a current ratio of 0.81, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 15.24 and a beta of 0.54. City has a 52-week low of $102.22 and a 52-week high of $137.28. The business has a 50 day simple moving average of $121.82 and a two-hundred day simple moving average of $118.79.

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

Insider Buying and Selling at City

In other news, Director James M. Parsons bought 2,200 shares of City stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $122.38 per share, with a total value of $269,236.00. Following the completion of the acquisition, the director directly owned 2,700 shares in the company, valued at $330,426. The trade was a 440.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the sale, the executive vice president directly owned 2,830 shares in the company, valued at approximately $328,902.60. This trade represents a 33.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,399 shares of company stock worth $798,360. 1.87% of the stock is owned by company insiders.

Institutional Trading of City

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. grew its position in shares of City by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock worth $74,192,000 after acquiring an additional 123,394 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock worth $31,071,000 after acquiring an additional 51,055 shares during the last quarter. Norges Bank purchased a new position in shares of City during the fourth quarter worth approximately $5,203,000. Nuveen LLC purchased a new position in shares of City during the first quarter worth approximately $4,883,000. Finally, GAMMA Investing LLC grew its position in shares of City by 13,747.8% during the first quarter. GAMMA Investing LLC now owns 37,943 shares of the bank's stock worth $4,457,000 after acquiring an additional 37,669 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

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.