City’s (CHCO) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

City (NASDAQ:CHCO)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Thursday, Benzinga reports. They presently have a $110.00 price objective on the bank’s stock, up from their previous price objective of $100.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 3.89% from the stock’s previous close.

A number of other research firms also recently commented on CHCO. Piper Sandler increased their target price on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Stephens raised their target price on City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th.

City Trading Down 0.2 %

NASDAQ:CHCO traded down $0.26 during trading hours on Thursday, hitting $105.88. The company had a trading volume of 5,787 shares, compared to its average volume of 61,040. City has a 1 year low of $82.53 and a 1 year high of $115.89. The company has a 50-day moving average of $101.66 and a 200 day moving average of $101.04. The company has a market cap of $1.57 billion, a P/E ratio of 13.23 and a beta of 0.51. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). The business had revenue of $86.10 million during the quarter, compared to analyst estimates of $72.50 million. City had a net margin of 33.78% and a return on equity of 18.31%. Sell-side analysts expect that City will post 7.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 8,899 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $101.00, for a total transaction of $898,799.00. Following the completion of the sale, the chief executive officer now directly owns 53,218 shares in the company, valued at approximately $5,375,018. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $101.00, for a total transaction of $898,799.00. Following the completion of the sale, the chief executive officer now owns 53,218 shares of the company’s stock, valued at $5,375,018. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Fairchilds sold 600 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $106.00, for a total value of $63,600.00. Following the completion of the transaction, the director now owns 2,014 shares in the company, valued at approximately $213,484. The disclosure for this sale can be found here. Insiders have sold 10,808 shares of company stock valued at $1,094,935 in the last 90 days. 2.45% of the stock is currently owned by insiders.

Institutional Trading of City

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of City by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock valued at $35,940,000 after purchasing an additional 16,123 shares in the last quarter. Deutsche Bank AG boosted its holdings in City by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 7,757 shares of the bank’s stock valued at $701,000 after acquiring an additional 919 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in City during the 3rd quarter valued at about $762,000. Dupree Financial Group LLC bought a new position in City during the 4th quarter valued at approximately $1,165,000. Finally, MQS Management LLC bought a new position in City during the 3rd quarter valued at approximately $247,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

About City

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.