City (NASDAQ:CHCO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

City (NASDAQ:CHCO) had its price target boosted by Keefe, Bruyette & Woods from $135.00 to $145.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 4.23% from the company’s current price.

Several other research firms also recently weighed in on CHCO. Hovde Group increased their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings cut shares of City from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, September 18th. One 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, the company has an average rating of “Hold” and a consensus price target of $139.33.

City Stock Down 0.5%

CHCO stock opened at $139.12 on Thursday. The stock has a market cap of $1.95 billion, a P/E ratio of 15.22 and a beta of 0.48. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. City has a twelve month low of $113.21 and a twelve month high of $148.99. The company’s 50 day moving average is $143.76 and its two-hundred day moving average is $132.40.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $81.52 million during the quarter, compared to analysts’ expectations of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. Research analysts expect that City will post 9.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Charles Hageboeck sold 4,485 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total transaction of $650,145.60. Following the transaction, the chief executive officer directly owned 43,998 shares of the company’s stock, valued at $6,377,950.08. This represents a 9.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sharon H. Rowe sold 400 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total transaction of $57,584.00. Following the completion of the transaction, the director directly owned 10,576 shares of the company’s stock, valued at approximately $1,522,520.96. This trade represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 444 shares of company stock worth $59,740 in the last ninety days. 1.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHCO. Allworth Financial LP purchased a new position in shares of City during the second quarter valued at approximately $27,000. Archer Investment Corp acquired a new position in City in the 2nd quarter valued at $49,000. Global Retirement Partners LLC purchased a new position in shares of City during the 2nd quarter worth $58,000. Geneos Wealth Management Inc. boosted its holdings in shares of City by 93.1% during the first quarter. Geneos Wealth Management Inc. now owns 676 shares of the bank’s stock worth $81,000 after purchasing an additional 326 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of City in the second quarter valued at $125,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Company Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank of West Virginia, the company provides banking and financial services to consumers, businesses, and public-sector organizations.

City National Bank offers checking and savings accounts, consumer and commercial loans, residential mortgage lending, online and mobile banking, treasury management, and other deposit and credit products.