City (NASDAQ:CHCO) PT Lowered to $99.00 at Stephens

City (NASDAQ:CHCO) had its target price dropped by stock analysts at Stephens from $100.00 to $99.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ target price indicates a potential downside of 5.62% from the stock’s previous close.

A number of other analysts have also recently commented on CHCO. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $110.00 price target (up previously from $100.00) on shares of City in a research note on Thursday. Piper Sandler raised their target price on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st.

City Stock Down 1.2 %

CHCO traded down $1.25 during trading hours on Thursday, hitting $104.89. 10,236 shares of the company’s stock were exchanged, compared to its average volume of 61,096. City has a 1-year low of $82.53 and a 1-year high of $115.89. The stock’s 50-day moving average is $101.66 and its two-hundred day moving average is $101.04. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 13.20 and a beta of 0.51. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The firm 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 predict that City will post 7.43 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On City

A number of hedge funds have recently made changes to their positions in CHCO. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of City in the 4th quarter valued at approximately $38,000. Federated Hermes Inc. boosted its position in City by 28.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after buying an additional 249 shares during the period. Quantbot Technologies LP boosted its position in City by 206.2% during the 3rd quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after buying an additional 1,330 shares during the period. CIC Wealth LLC acquired a new stake in City during the 4th quarter worth approximately $210,000. Finally, Lido Advisors LLC acquired a new stake in City during the 3rd quarter worth approximately $237,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Company Profile

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.