City (NASDAQ:CHCO) Hits New 52-Week High After Analyst Upgrade

City Holding Company (NASDAQ:CHCO) shares hit a new 52-week high on Tuesday after Hovde Group raised their price target on the stock from $135.00 to $143.00. Hovde Group currently has a market perform rating on the stock. City traded as high as $144.56 and last traded at $143.90, with a volume of 159410 shares trading hands. The stock had previously closed at $139.62.

Separately, Weiss Ratings raised shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $136.50.

Insiders Place Their Bets

In other City news, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total transaction of $144,544.50. Following the transaction, the chief financial officer owned 10,666 shares in the company, valued at $1,327,917. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 1,858 shares of City stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $124.40, for a total transaction of $231,135.20. Following the completion of the transaction, the chief executive officer directly owned 48,483 shares in the company, valued at approximately $6,031,285.20. This represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,535 shares of company stock valued at $689,777 over the last quarter. Insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHCO. Kestra Advisory Services LLC acquired a new position in City during the 4th quarter worth $29,000. First Horizon Corp increased its stake in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after purchasing an additional 146 shares during the period. Quarry LP bought a new position in shares of City in the third quarter worth about $32,000. Simplex Trading LLC acquired a new stake in City in the 4th quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. increased its position in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after buying an additional 198 shares during the period. Institutional investors own 72.43% of the company’s stock.

City Trading Up 3.1%

The company has a market capitalization of $2.03 billion, a P/E ratio of 15.74 and a beta of 0.49. The company has a 50-day simple moving average of $130.40 and a 200 day simple moving average of $125.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. City had a return on equity of 16.38% and a net margin of 32.58%. Sell-side analysts expect that City Holding Company will post 8.99 earnings per share for the current year.

City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s payout ratio is 38.07%.

City Company Profile

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.