City (NASDAQ:CHCO) Reaches New 12-Month High on Analyst Upgrade

Key Points

• City Holding’s stock reached a new 52-week high of $144.56 after Hovde Group raised its price target from $135 to $143, though the firm maintained a “Market Perform” rating. The stock’s average analyst rating remains “Hold,” with an average target of $136.50.
• City reported quarterly EPS of $2.35, exceeding the $2.23 consensus estimate, while revenue of $81.52 million also topped expectations. The company declared a quarterly dividend of $0.87 per share, representing a 2.4% yield.
• Institutional investors own 72.43% of the company, with several firms increasing their positions. Meanwhile, company insiders sold 5,535 shares worth approximately $689,777 over the past 90 days.

City Holding Company (NASDAQ:CHCO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after Hovde Group raised their price target on the stock from $135.00 to $143.00. Hovde Group currently has a market perform rating on the stock. City traded as high as $144.56 and last traded at $143.90, with a volume of 159410 shares changing hands. The stock had previously closed at $139.62.

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

Insider Buying and Selling at City

In related news, CFO David L. Bumgarner sold 1,161 shares of City stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer directly owned 10,666 shares in the company, valued at $1,327,917. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles R. Hageboeck sold 1,858 shares of the business's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $124.40, for a total value of $231,135.20. Following the sale, the chief executive officer directly owned 48,483 shares in the company, valued at $6,031,285.20. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,535 shares of company stock valued at $689,777. Corporate insiders own 1.75% of the company's stock.

Institutional Investors Weigh In On City

A number of large investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL lifted its position in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock worth $9,543,000 after buying an additional 29,828 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of City during the 4th quarter valued at $1,353,000. Louisiana State Employees Retirement System purchased a new position in shares of City during the 1st quarter valued at $765,000. R Squared Ltd grew its holdings in shares of 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 acquiring an additional 132 shares in the last quarter. Finally, Amundi increased its stake in shares of City by 37.7% in the first quarter. Amundi now owns 2,794 shares of the bank's stock worth $334,000 after acquiring an additional 765 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

City Price Performance

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock's 50 day moving average price is $130.40 and its two-hundred day moving average price is $125.46. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 15.74 and a beta of 0.49.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. City had a return on equity of 16.38% and a net margin of 32.58%.The firm had revenue of $81.52 million during the quarter, compared to analysts' expectations of $80.64 million. Analysts anticipate that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 15th. City's payout ratio is currently 38.07%.

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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