City (NASDAQ:CHCO) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of City (NASDAQ:CHCO) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $125.00 price target on the bank’s stock.

A number of other brokerages have also issued reports on CHCO. Weiss Ratings reissued a “buy (b)” rating on shares of City in a research report on Wednesday, October 8th. Zacks Research cut City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen lowered City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $133.25.

City Stock Down 0.2%

Shares of CHCO opened at $122.23 on Wednesday. The company’s 50-day moving average price is $120.87 and its 200 day moving average price is $122.51. City has a 12-month low of $102.22 and a 12-month high of $133.59. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.76 billion, a P/E ratio of 14.05 and a beta of 0.52.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.26. The business had revenue of $61.29 million during the quarter, compared to analysts’ expectations of $80.17 million. City had a net margin of 32.33% and a return on equity of 16.66%. On average, sell-side analysts forecast that City will post 7.58 earnings per share for the current year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, January 15th. City’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling at City

In other news, CEO Charles R. Hageboeck sold 2,017 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the completion of the sale, the chief executive officer owned 50,359 shares in the company, valued at approximately $6,077,324.12. The trade was a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 416 shares of company stock worth $48,768. 1.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On City

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of City during the third quarter worth about $32,000. Geneos Wealth Management Inc. boosted its position in shares of City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares during the period. EverSource Wealth Advisors LLC grew its stake in City by 463.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $52,000 after buying an additional 352 shares during the last quarter. CWM LLC grew its stake in City by 45.9% during the 3rd quarter. CWM LLC now owns 467 shares of the bank’s stock worth $58,000 after buying an additional 147 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in City by 28.4% in the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock valued at $61,000 after buying an additional 110 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other 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.