City (NASDAQ:CHCO) Given “Market Perform” Rating at Keefe, Bruyette & Woods

City (NASDAQ:CHCO)‘s stock had its “market perform” rating restated by Keefe, Bruyette & Woods in a report released on Thursday, Benzinga reports. They presently have a $110.00 price objective on the bank’s stock, up from their previous price objective of $100.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 5.66% from the stock’s previous close.

CHCO has been the topic of a number of other reports. Stephens increased their price objective on shares of City from $98.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Piper Sandler increased their price objective on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st.

City Price Performance

NASDAQ CHCO opened at $104.11 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50 day moving average price is $101.79 and its 200-day moving average price is $101.11. City has a 52-week low of $82.53 and a 52-week high of $115.89. The company has a market cap of $1.55 billion, a PE ratio of 13.10 and a beta of 0.51.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). City had a net margin of 33.78% and a return on equity of 18.31%. The business had revenue of $86.10 million for the quarter, compared to the consensus estimate of $72.50 million. Sell-side analysts forecast that City will post 7.51 EPS for the current fiscal year.

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total transaction of $898,799.00. Following the completion of the sale, the chief executive officer now owns 53,218 shares of the company’s stock, valued at $5,375,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other City news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the completion of the transaction, the chief executive officer now owns 53,218 shares of the company’s stock, valued at $5,375,018. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Derito sold 1,309 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares of the company’s stock, valued at approximately $2,897,775. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHCO. Norges Bank purchased a new position in shares of City in the fourth quarter worth $10,953,000. Axxcess Wealth Management LLC increased its stake in shares of City by 577.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank’s stock worth $11,938,000 after acquiring an additional 92,276 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of City by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock worth $35,940,000 after acquiring an additional 16,123 shares during the period. McKinley Carter Wealth Services Inc. increased its stake in shares of City by 215.1% in the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank’s stock worth $1,682,000 after acquiring an additional 11,019 shares during the period. Finally, Dupree Financial Group LLC acquired a new stake in shares of City in the fourth quarter worth $1,165,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

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.