City (NASDAQ:CHCO) Given New $130.00 Price Target at Piper Sandler

City (NASDAQ:CHCO) had its price objective raised by Piper Sandler from $125.00 to $130.00 in a research report report published on Friday morning, MarketBeat reports. The firm currently has a neutral rating on the bank’s stock.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $134.50.

City Price Performance

Shares of NASDAQ:CHCO opened at $121.56 on Friday. City has a 12 month low of $102.22 and a 12 month high of $133.59. The firm has a market capitalization of $1.75 billion, a P/E ratio of 13.60 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.82. The company’s fifty day moving average price is $122.60 and its 200 day moving average price is $123.33.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The firm had revenue of $60.83 million for the quarter, compared to analysts’ expectations of $81.38 million. As a group, sell-side analysts predict that City will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.87 per share. The ex-dividend date is Thursday, January 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. City’s dividend payout ratio is presently 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 dated Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the transaction, the chief executive officer directly owned 50,359 shares in the company, valued at $6,077,324.12. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On City

A number of institutional investors have recently added to or reduced their stakes in CHCO. Two Sigma Investments LP lifted its holdings 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 valued at $15,335,000 after buying an additional 71,436 shares during the period. Tudor Investment Corp ET AL raised its position in City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after acquiring an additional 29,828 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after acquiring an additional 22,536 shares during the period. TrueMark Investments LLC purchased a new stake in shares of City during the 2nd quarter worth $2,249,000. Finally, Marshall Wace LLP purchased a new stake in shares of City during the 2nd quarter worth $2,216,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

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.