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

City (NASDAQ:CHCO - Get Free Report) had its target price upped by investment analysts at DA Davidson from $128.00 to $137.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. DA Davidson's price objective points to a potential upside of 3.94% from the stock's previous close.

Several other research analysts have also recently weighed in on CHCO. Keefe, Bruyette & Woods increased their price target on shares of City from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Wednesday. Hovde Group raised 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.

City Stock Performance

City stock traded down $1.77 during trading hours on Thursday, hitting $131.81. The company had a trading volume of 48,209 shares, compared to its average volume of 81,536. The firm has a market cap of $1.91 billion, a PE ratio of 15.87 and a beta of 0.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. City has a one year low of $102.22 and a one year high of $137.28. The firm has a 50-day moving average of $121.35 and a 200 day moving average of $118.50.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.32. The firm had revenue of $78.16 million for the quarter, compared to analysts' expectations of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.42%. On average, sell-side analysts expect that City will post 7.58 earnings per share for the current year.

Insider Transactions at City

In other City news, Director James M. Parsons bought 2,200 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $122.38 per share, with a total value of $269,236.00. Following the completion of the acquisition, the director owned 2,700 shares of the company's stock, valued at $330,426. This trade represents a 440.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David L. Bumgarner sold 1,058 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total transaction of $124,844.00. Following the sale, the chief financial officer owned 10,636 shares in the company, valued at $1,255,048. This represents a 9.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,899 shares of company stock valued at $339,590. 1.87% of the stock is currently owned by company insiders.

Institutional Trading of City

Several large investors have recently made changes to their positions in the company. KLP Kapitalforvaltning AS boosted its position in shares of City by 3.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,200 shares of the bank's stock worth $392,000 after acquiring an additional 100 shares in the last quarter. Carolina Wealth Advisors LLC boosted its position in shares of City by 2.3% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 46,209 shares of the bank's stock worth $5,657,000 after acquiring an additional 1,057 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of City by 8.3% during the 2nd quarter. QRG Capital Management Inc. now owns 4,841 shares of the bank's stock worth $593,000 after acquiring an additional 373 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of City during the 2nd quarter worth approximately $206,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of City by 10.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,179 shares of the bank's stock worth $1,613,000 after acquiring an additional 1,198 shares in the last quarter. 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.

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