City (NASDAQ:CHCO) Given New $143.00 Price Target at Hovde Group

Key Points

• Hovde Group raised City’s price target to $143 from $135 while maintaining a “market perform” rating, implying about 2.42% upside. The analyst consensus remains “Hold,” with a $136.50 target.
• City reported quarterly EPS of $2.35, beating expectations of $2.23, while revenue of $81.52 million also exceeded estimates. The bank posted a 32.58% net margin and 16.38% return on equity.
• City shares opened at $139.62, near their 52-week high of $140.27, and institutional investors own 72.43% of the stock. Insiders have sold 12,600 shares worth approximately $1.58 million over the past 90 days.

City (NASDAQ:CHCO - Get Free Report) had its target price boosted by investment analysts at Hovde Group from $135.00 to $143.00 in a research note issued to investors on Monday. The brokerage currently has a "market perform" rating on the bank's stock. Hovde Group's target price would suggest a potential upside of 2.42% from the stock's current price.

Separately, Weiss Ratings upgraded City from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, City has a consensus rating of "Hold" and a consensus price target of $136.50.

City Price Performance

NASDAQ CHCO opened at $139.62 on Monday. The company has a market cap of $1.97 billion, a PE ratio of 15.28 and a beta of 0.49. The firm's 50 day moving average price is $129.98 and its 200-day moving average price is $125.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. City has a 52-week low of $113.21 and a 52-week high of $140.27.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.38%. The company had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. Sell-side analysts forecast that City will post 8.99 EPS for the current fiscal year.

Insider Activity

In other news, CEO Charles R. Hageboeck sold 1,858 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $124.40, for a total transaction of $231,135.20. Following the transaction, the chief executive officer directly owned 48,483 shares of the company's stock, valued at approximately $6,031,285.20. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total value of $152,568.90. Following the completion of the sale, the executive vice president directly owned 3,314 shares of the company's stock, valued at $417,862.26. The trade was a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,600 shares of company stock valued at $1,575,978 in the last ninety days. 1.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On City

Several institutional investors have recently added to or reduced their stakes in CHCO. ProShare Advisors LLC increased its holdings in shares of City by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 2,740 shares of the bank's stock valued at $327,000 after acquiring an additional 81 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in City by 4.2% in the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank's stock worth $238,000 after purchasing an additional 81 shares in the last quarter. Smartleaf Asset Management LLC grew its position in City by 28.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank's stock worth $61,000 after purchasing an additional 110 shares during the last quarter. R Squared Ltd increased its stake in City by 6.6% during the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank's stock valued at $254,000 after purchasing an additional 132 shares in the last quarter. Finally, First Horizon Corp increased its stake in City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

City Company Profile

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

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