City (NASDAQ:CHCO) Price Target Raised to $130.00 at Keefe, Bruyette & Woods

City (NASDAQ:CHCO) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $120.00 to $130.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 0.33% from the company’s current price.

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective on shares of City in a research report on Friday, November 8th.

City Stock Performance

Shares of CHCO opened at $130.43 on Wednesday. The company has a 50-day simple moving average of $122.88 and a two-hundred day simple moving average of $115.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $1.92 billion, a PE ratio of 16.96 and a beta of 0.49. City has a one year low of $97.50 and a one year high of $137.28.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.10. City had a net margin of 31.18% and a return on equity of 16.60%. The company had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. On average, analysts anticipate that City will post 7.84 EPS for the current fiscal year.

Insider Activity at City

In related news, EVP John A. Derito sold 1,243 shares of City stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the sale, the executive vice president now owns 28,757 shares of the company’s stock, valued at $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the transaction, the director now directly owns 23,637 shares in the company, valued at approximately $3,151,521.21. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,092 shares of company stock valued at $1,196,697. 2.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHCO. Franklin Resources Inc. lifted its position in City by 4.5% during the third quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 404 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of City by 0.3% in the third quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock worth $41,792,000 after buying an additional 1,065 shares during the period. Barclays PLC lifted its position in shares of City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock valued at $3,385,000 after buying an additional 16,044 shares in the last quarter. Zacks Investment Management grew its stake in shares of City by 6.8% during the 3rd quarter. Zacks Investment Management now owns 21,610 shares of the bank’s stock valued at $2,537,000 after acquiring an additional 1,373 shares during the period. Finally, Jane Street Group LLC raised its stake in City by 66.6% during the 3rd quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock worth $2,937,000 after acquiring an additional 9,999 shares during the period. 72.43% of the stock is currently owned by institutional investors.

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.