City (NASDAQ:CHCO) PT Lowered to $99.00 at Stephens

City (NASDAQ:CHCO) had its target price dropped by analysts at Stephens from $100.00 to $99.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective suggests a potential downside of 5.62% from the stock’s current price.

A number of other equities research analysts have also issued reports on CHCO. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $110.00 price target (up from $100.00) on shares of City in a research report on Thursday. Piper Sandler raised their price target on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st.

City Stock Performance

Shares of CHCO stock traded down $1.25 on Thursday, hitting $104.89. The company had a trading volume of 10,236 shares, compared to its average volume of 61,096. The firm has a market cap of $1.56 billion, a P/E ratio of 13.20 and a beta of 0.51. The company has a 50-day moving average price of $101.66 and a 200-day moving average price of $101.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. City has a twelve month low of $82.53 and a twelve month high of $115.89.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.06). The company had revenue of $86.10 million during the quarter, compared to analyst estimates of $72.50 million. City had a net margin of 33.78% and a return on equity of 18.31%. As a group, equities research analysts predict that City will post 7.43 earnings per share for the current fiscal year.

Insider Activity

In other City news, Director Charles W. Fairchilds sold 600 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.00, for a total value of $63,600.00. Following the sale, the director now directly owns 2,014 shares in the company, valued at $213,484. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other City news, Director Charles W. Fairchilds sold 600 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.00, for a total transaction of $63,600.00. Following the transaction, the director now owns 2,014 shares of the company’s stock, valued at $213,484. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $101.00, for a total value of $898,799.00. Following the transaction, the chief executive officer now directly owns 53,218 shares in the company, valued at approximately $5,375,018. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,808 shares of company stock worth $1,094,935. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On City

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of City by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock worth $35,940,000 after buying an additional 16,123 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of City by 13.4% during the third quarter. Deutsche Bank AG now owns 7,757 shares of the bank’s stock worth $701,000 after buying an additional 919 shares during the last quarter. Dupree Financial Group LLC purchased a new position in shares of City during the fourth quarter worth about $1,165,000. Illinois Municipal Retirement Fund purchased a new position in shares of City during the third quarter worth about $762,000. Finally, MQS Management LLC purchased a new position in shares of City during the third quarter worth about $247,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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.