City (NASDAQ:CHCO) Sees Large Volume Increase – Here’s What Happened

City Holding Company (NASDAQ:CHCO) shares saw unusually-high trading volume on Thursday . Approximately 95,304 shares were traded during trading, a decline of 11% from the previous session’s volume of 106,970 shares.The stock last traded at $120.7350 and had previously closed at $119.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.50.

City Price Performance

The stock has a market cap of $1.74 billion, a P/E ratio of 13.54 and a beta of 0.51. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $122.22 and its 200-day simple moving average is $122.30.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.11). The business had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. City had a net margin of 32.56% and a return on equity of 16.61%. As a group, sell-side analysts forecast that City Holding Company will post 7.58 EPS for the current year.

Insiders Place Their Bets

In other City news, CEO Charles R. Hageboeck sold 1,275 shares of City stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $125.33, for a total transaction of $159,795.75. Following the sale, the chief executive officer directly owned 49,084 shares of the company’s stock, valued at approximately $6,151,697.72. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 553 shares of company stock worth $64,082 over the last 90 days. 1.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On City

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Corp boosted its stake in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after buying an additional 146 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in City during the fourth quarter worth $29,000. Quarry LP bought a new position in shares of City during the third quarter valued at $32,000. Simplex Trading LLC bought a new position in shares of City during the fourth quarter valued at $36,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

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.