City (NASDAQ:CHCO) Price Target Raised to $135.00

Key Points

• Analyst updates: Hovde Group raised its price target on City to $135 (from $133) and Piper Sandler lifted its target to $130, while the consensus rating remains a "Hold" with a $134.25 consensus target, implying modest upside.
• Quarterly results: City reported $2.20 EPS versus $2.17 expected, with a 32.72% net margin and 16.58% ROE, and sell-side analysts forecast about 8.87 EPS for the current year.
• Capital actions and ownership: The board authorized a repurchase of 1,000,000 shares; CEO Charles Hageboeck recently sold 1,275 shares, insiders have net purchases of 908 shares in the past 90 days, and institutions own roughly 72.4% of the stock.

City (NASDAQ:CHCO - Get Free Report) had its target price lifted by Hovde Group from $133.00 to $135.00 in a research report issued to clients and investors on Tuesday. The firm presently has a "market perform" rating on the bank's stock. Hovde Group's price objective indicates a potential upside of 8.47% from the company's previous close.

Separately, Piper Sandler lifted their target price on shares of City from $125.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $134.25.

City Price Performance

Shares of NASDAQ CHCO opened at $124.46 on Tuesday. City has a twelve month low of $113.21 and a twelve month high of $133.59. The firm has a fifty day simple moving average of $122.05 and a 200 day simple moving average of $122.24. The company has a market capitalization of $1.79 billion, a PE ratio of 13.71 and a beta of 0.49. The company has a quick ratio of 0.83, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. On average, sell-side analysts forecast that City will post 8.87 EPS for the current year.

City announced that its board has approved a share repurchase program on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 1,275 shares of the firm's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $125.33, for a total value of $159,795.75. Following the completion of the sale, the chief executive officer directly owned 49,084 shares in the company, valued at approximately $6,151,697.72. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 908 shares of company stock valued at $108,939 in the last ninety days. Company insiders own 1.75% of the company's stock.

Institutional Investors Weigh In On City

A number of large investors have recently bought and sold shares of CHCO. JPMorgan Chase & Co. raised its holdings in shares of City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank's stock worth $26,272,000 after acquiring an additional 22,536 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in City by 14.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank's stock valued at $6,999,000 after purchasing an additional 7,081 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in City by 63.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock worth $9,543,000 after purchasing an additional 29,828 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of City by 255.3% in the third quarter. SG Americas Securities LLC now owns 8,936 shares of the bank's stock worth $1,107,000 after purchasing an additional 6,421 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of City by 86.2% in the third quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank's stock worth $2,354,000 after purchasing an additional 8,795 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.