Keefe, Bruyette & Woods reissued their market perform rating on shares of City (NASDAQ:CHCO - Free Report) in a research note published on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a $110.00 price target on the bank's stock, up from their previous price target of $100.00.
Other equities analysts also recently issued research reports about the stock. Piper Sandler lifted their price objective on shares of City from $103.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, February 1st. Stephens lifted their price objective on shares of City from $98.00 to $100.00 and gave the company an equal weight rating in a research note on Thursday, January 25th.
Check Out Our Latest Stock Report on City
City Stock Down 0.9 %
NASDAQ:CHCO traded down $0.93 during trading hours on Thursday, hitting $105.21. The stock had a trading volume of 63,591 shares, compared to its average volume of 61,774. City has a 1-year low of $82.53 and a 1-year high of $115.89. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.56 billion, a PE ratio of 13.23 and a beta of 0.51. The business has a 50 day simple moving average of $101.76 and a two-hundred day simple moving average of $101.08.
City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.06). City had a return on equity of 18.31% and a net margin of 33.78%. The company had revenue of $86.10 million for the quarter, compared to analyst estimates of $72.50 million. Analysts predict that City will post 7.43 EPS for the current year.
City Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.86 dividend on an annualized basis and a yield of 2.72%. City's dividend payout ratio is currently 35.97%.
Insider Buying and Selling
In related news, Director Charles W. Fairchilds sold 600 shares of City stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.00, for a total value of $63,600.00. Following the transaction, the director now owns 2,014 shares of the company's stock, valued at approximately $213,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other City news, EVP John A. Derito sold 1,309 shares of City stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the transaction, the executive vice president now owns 28,620 shares of the company's stock, valued at approximately $2,897,775. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles W. Fairchilds sold 600 shares of City stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.00, for a total value of $63,600.00. Following the transaction, the director now directly owns 2,014 shares in the company, valued at approximately $213,484. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,808 shares of company stock valued at $1,094,935. 2.45% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On City
Several institutional investors and hedge funds have recently bought and sold shares of CHCO. Charles Schwab Investment Management Inc. lifted its holdings in shares of City by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank's stock valued at $35,940,000 after buying an additional 16,123 shares during the last quarter. Deutsche Bank AG lifted its holdings in City by 13.4% in the 3rd quarter. Deutsche Bank AG now owns 7,757 shares of the bank's stock worth $701,000 after purchasing an additional 919 shares during the last quarter. Dupree Financial Group LLC acquired a new stake in City in the 4th quarter worth approximately $1,165,000. Illinois Municipal Retirement Fund acquired a new stake in City in the 3rd quarter worth approximately $762,000. Finally, MQS Management LLC acquired a new stake in City in the 3rd quarter worth approximately $247,000. Hedge funds and other institutional investors own 72.43% of the company's stock.
City Company Profile
(
Get Free Report)
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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