Analysts Set City Holding Company (NASDAQ:CHCO) PT at $134.25
by Jessica Moore · The Cerbat GemCity Holding Company (NASDAQ:CHCO – Get Free Report) has been assigned an average recommendation of “Hold” from the four analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $132.50.
Several analysts recently commented on the stock. Hovde Group increased their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 16th.
View Our Latest Report on CHCO
City Price Performance
Shares of City stock opened at $139.62 on Wednesday. City has a 52 week low of $113.21 and a 52 week high of $140.27. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.97 billion, a PE ratio of 15.28 and a beta of 0.49. The company’s 50-day moving average price is $129.98 and its two-hundred day moving average price is $125.28.
City (NASDAQ:CHCO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.38%. As a group, sell-side analysts anticipate that City will post 8.99 EPS for the current fiscal year.
City Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 15th. City’s payout ratio is presently 38.07%.
Insider Buying and Selling
In other news, EVP Jeffrey Dale Legge sold 1,309 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total transaction of $163,625.00. Following the sale, the executive vice president directly owned 7,656 shares of the company’s stock, valued at $957,000. The trade was a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the completion of the transaction, the chief financial officer owned 10,666 shares of the company’s stock, valued at $1,327,917. This trade represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,975 shares of company stock valued at $1,622,853. Insiders own 1.75% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Ledgewood Wealth Advisors LLC acquired a new stake in shares of City during the second quarter valued at approximately $202,000. GAMMA Investing LLC boosted its stake in City by 38.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,197 shares of the bank’s stock worth $159,000 after purchasing an additional 333 shares during the period. Amundi boosted its stake in City by 37.7% in the 1st quarter. Amundi now owns 2,794 shares of the bank’s stock worth $334,000 after purchasing an additional 765 shares during the period. Quantinno Capital Management LP grew its position in City by 41.3% during the 1st quarter. Quantinno Capital Management LP now owns 8,429 shares of the bank’s stock worth $1,008,000 after purchasing an additional 2,465 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in City by 55.0% during the 1st quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock worth $7,373,000 after purchasing an additional 21,898 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.
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.