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

Shares of City Holding Company (NASDAQ:CHCO) have received a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $134.25.

A number of brokerages have weighed in on CHCO. Hovde Group raised their target price on City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “buy (b)” rating on shares of City in a report on Wednesday, May 27th.

Insider Activity at City

In other City news, CFO David L. Bumgarner sold 1,161 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction of $144,544.50. Following the sale, the chief financial officer owned 10,666 shares of the company’s stock, valued at approximately $1,327,917. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total transaction of $152,568.90. Following the transaction, the executive vice president owned 3,314 shares of the company’s stock, valued at $417,862.26. This trade represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. 1.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On City

Hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in City by 1.0% in the second quarter. State Street Corp now owns 639,166 shares of the bank’s stock valued at $78,247,000 after acquiring an additional 6,371 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in City by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock worth $70,740,000 after purchasing an additional 6,552 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in City by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after purchasing an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of City by 0.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock worth $25,443,000 after purchasing an additional 1,354 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of City by 136.4% in the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after purchasing an additional 71,436 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Stock Performance

Shares of City stock opened at $135.26 on Friday. The company has a 50 day moving average of $125.97 and a 200-day moving average of $123.91. City has a 1-year low of $113.21 and a 1-year high of $135.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.91 billion, a PE ratio of 14.90 and a beta of 0.49.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that City will post 8.99 earnings per share for the current fiscal year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, July 15th. City’s dividend payout ratio (DPR) is presently 38.33%.

City announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.