City (NASDAQ:CHCO) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• City Holding Company has received a "Buy (B)" rating from Weiss Ratings, indicating positive sentiment from analysts regarding its stock performance.
• Institutional ownership is strong, with 72.43% of the company's stock held by institutional investors, reflecting confidence in the bank's operations.
• City's stock recently traded down 0.5% to $121.85, with an average target price set at $133.25 according to consensus estimates.

City (NASDAQ:CHCO - Get Free Report)'s stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of City from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Hovde Group upped their price objective on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Zacks Research lowered shares of City from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Finally, DA Davidson raised their price objective on shares of City from $128.00 to $137.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $133.25.

City Stock Down 0.5%

City stock traded down $0.59 during trading hours on Friday, hitting $121.85. The stock had a trading volume of 75,085 shares, compared to its average volume of 81,271. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $124.58 and its 200-day moving average price is $121.63. City has a 12-month low of $102.22 and a 12-month high of $137.28. The stock has a market capitalization of $1.77 billion, a P/E ratio of 14.01 and a beta of 0.53.

City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.26. The firm had revenue of $81.26 million during the quarter, compared to analyst estimates of $80.17 million. City had a net margin of 32.33% and a return on equity of 16.66%. Equities research analysts anticipate that City will post 7.58 EPS for the current fiscal year.

Hedge Funds Weigh In On City

Several institutional investors have recently modified their holdings of the company. State Street Corp lifted its holdings in City by 1.0% in the second quarter. State Street Corp now owns 639,166 shares of the bank's stock worth $78,247,000 after purchasing an additional 6,371 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of City by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock valued at $74,192,000 after acquiring an additional 123,394 shares during the period. Charles Schwab Investment Management Inc. raised its stake in City by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock worth $68,139,000 after acquiring an additional 29,302 shares in the last quarter. City Holding Co. grew its holdings in shares of City by 3.0% in the 2nd quarter. City Holding Co. now owns 263,664 shares of the bank's stock worth $32,278,000 after purchasing an additional 7,636 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in shares of City by 0.4% in the second quarter. Axxcess Wealth Management LLC now owns 109,751 shares of the bank's stock valued at $13,436,000 after buying an additional 485 shares in the last quarter. Institutional investors 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.

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