Analysts Set City Holding Company (NASDAQ:CHCO) Price Target at $134.25

Shares of City Holding Company (NASDAQ:CHCO) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $134.25.

Several research firms have weighed in on CHCO. Hovde Group lifted their price target on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th.

City Price Performance

CHCO stock opened at $126.78 on Tuesday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 13.96 and a beta of 0.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. City has a 12-month low of $113.21 and a 12-month high of $133.59. The company’s fifty day simple moving average is $123.90 and its 200 day simple moving average is $122.88.

City (NASDAQ:CHCO) last released its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.03. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. On average, analysts expect that City will post 8.99 earnings per share for the current year.

City announced that its board has authorized a stock repurchase plan on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s payout ratio is 38.33%.

Insider Activity at City

In other City news, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the sale, the executive vice president directly owned 7,656 shares of the company’s stock, valued at approximately $957,000. The trade was a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 1,858 shares of City stock in a transaction on Friday, May 29th. The shares were sold at an average price of $124.40, for a total transaction of $231,135.20. Following the completion of the sale, the chief executive officer directly owned 48,483 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders bought 1,008 shares of company stock valued at $121,099 and sold 12,975 shares valued at $1,622,853. Corporate insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On City

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after acquiring an additional 22,536 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in City by 14.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after purchasing an additional 7,081 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in City by 63.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the last quarter. MQS Management LLC acquired a new position in City during the 3rd quarter valued at about $521,000. Finally, Rafferty Asset Management LLC boosted its stake in City by 86.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock valued at $2,354,000 after purchasing an additional 8,795 shares during the last quarter. 72.43% of the stock is owned by institutional investors.

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.