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

City (NASDAQ:CHCO) had its price target hoisted by Keefe, Bruyette & Woods from $120.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 0.33% from the stock’s current price.

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price on shares of City in a research report on Friday, November 8th.

City Stock Down 1.3 %

City stock opened at $130.43 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 16.96 and a beta of 0.49. The firm has a 50 day moving average price of $122.88 and a two-hundred day moving average price of $115.44. City has a 52-week low of $97.50 and a 52-week high of $137.28.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The company had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $73.90 million. Equities analysts predict that City will post 7.84 EPS for the current year.

Insiders Place Their Bets

In other news, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares in the company, valued at approximately $3,151,521.21. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Derito sold 1,243 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the transaction, the executive vice president now owns 28,757 shares in the company, valued at approximately $3,937,696.01. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,092 shares of company stock worth $1,196,697 over the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On City

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after acquiring an additional 113 shares during the last quarter. nVerses Capital LLC bought a new position in shares of City in the third quarter worth approximately $59,000. Point72 DIFC Ltd purchased a new position in shares of City in the third quarter worth $134,000. Crossmark Global Holdings Inc. bought a new stake in City during the 3rd quarter valued at $199,000. Finally, Intech Investment Management LLC purchased a new stake in City during the 2nd quarter valued at $208,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

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.