SunTrust Reiterates Neutral Rating for City National Corp. (CYN)
City National Corp. (NYSE:CYN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at SunTrust in a research note issued to investors on Thursday. They currently have a $83.00 target price on the stock, up from their previous target price of $79.00. SunTrust’s price target suggests a potential upside of 10.30% from the company’s current price.
A number of other analysts have also recently weighed in on CYN. Analysts at Bank of America downgraded shares of City National Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday. They now have a $80.00 price target on the stock, down previously from $82.00. Separately, analysts at Raymond James raised their price target on shares of City National Corp. from $81.00 to $83.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of City National Corp. in a research note on Friday, July 25th. They now have a $79.00 price target on the stock, up previously from $78.00. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. City National Corp. has a consensus rating of “Hold” and a consensus price target of $78.25.
Shares of City National Corp. (NYSE:CYN) traded down 2.69% on Thursday, hitting $75.25. The stock had a trading volume of 430,052 shares. City National Corp. has a 52 week low of $64.20 and a 52 week high of $81.34. The stock’s 50-day moving average is $75.44 and its 200-day moving average is $74.61. The company has a market cap of $4.106 billion and a P/E ratio of 19.04.
City National Corp. (NYSE:CYN) last announced its earnings results on Thursday, July 24th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.98 by $0.13. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, analysts predict that City National Corp. will post $4.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, August 4th.
City National Corporation (NYSE:CYN) is a bank holding company and a financial holding company.
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