City (NASDAQ:CHCO) Price Target Raised to $143.00

City (NASDAQ:CHCO) had its target price lifted by equities researchers at Hovde Group from $135.00 to $143.00 in a report released on Monday. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s price objective would indicate a potential upside of 2.42% from the company’s previous close.

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 research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $136.50.

City Price Performance

City stock opened at $139.62 on Monday. The business’s 50-day simple moving average is $129.98 and its two-hundred day simple moving average is $125.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $1.97 billion, a PE ratio of 15.28 and a beta of 0.49. City has a fifty-two week low of $113.21 and a fifty-two week high of $140.27.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. City had a return on equity of 16.38% and a net margin of 32.58%.The firm had revenue of $81.52 million during the quarter, compared to analysts’ expectations of $80.64 million. Equities analysts anticipate that City will post 8.99 EPS for the current year.

Insider Buying and Selling

In related news, CEO Charles R. Hageboeck sold 1,858 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $124.40, for a total transaction of $231,135.20. Following the sale, the chief executive officer directly owned 48,483 shares of the company’s stock, valued at $6,031,285.20. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the transaction, the executive vice president owned 7,656 shares of the company’s stock, valued at approximately $957,000. This represents a 14.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,600 shares of company stock worth $1,575,978 over the last ninety days. 1.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On City

Large investors have recently made changes to their positions in the company. First Horizon Corp boosted its holdings in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of City in the fourth quarter worth about $29,000. Quarry LP acquired a new position in shares of City in the third quarter worth about $32,000. Simplex Trading LLC purchased a new stake in shares of City during the 4th quarter worth about $36,000. Finally, Geneos Wealth Management Inc. grew its position in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after acquiring an additional 198 shares during the period. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.