City (NASDAQ:CHCO) Price Target Raised to $113.00

City (NASDAQ:CHCO) had its price target boosted by investment analysts at Hovde Group from $110.00 to $113.00 in a note issued to investors on Thursday, Briefing.com reports. The brokerage presently has a “market perform” rating on the bank’s stock. Hovde Group’s price target indicates a potential upside of 8.67% from the company’s current price.

A number of other analysts have also recently commented on CHCO. Piper Sandler lifted their target price on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $110.00 target price (up previously from $100.00) on shares of City in a research note on Thursday, April 25th. Finally, Stephens dropped their price target on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, City has an average rating of “Hold” and a consensus target price of $106.75.

City Price Performance

NASDAQ CHCO opened at $103.98 on Thursday. The company has a market cap of $1.55 billion, a PE ratio of 13.08 and a beta of 0.50. City has a 52-week low of $82.53 and a 52-week high of $115.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50 day moving average price is $101.80 and its 200-day moving average price is $101.47.

Insider Transactions at City

In related news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the sale, the executive vice president now owns 3,400 shares of the company’s stock, valued at $356,116. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other City news, EVP John A. Derito sold 1,309 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total transaction of $132,536.25. Following the completion of the sale, the executive vice president now owns 28,620 shares of the company’s stock, valued at $2,897,775. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,773 shares of City stock in a transaction on Friday, April 26th. The shares were sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the sale, the executive vice president now owns 3,400 shares in the company, valued at approximately $356,116. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,981 shares of company stock valued at $1,217,039. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of City

A number of hedge funds and other institutional investors have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. acquired a new stake in City in the 4th quarter valued at approximately $38,000. Federated Hermes Inc. grew its position in City by 28.0% in the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after acquiring an additional 249 shares in the last quarter. Quantbot Technologies LP increased its stake in City by 206.2% during the third quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after purchasing an additional 1,330 shares during the period. CIC Wealth LLC acquired a new stake in shares of City during the fourth quarter worth about $210,000. Finally, Lido Advisors LLC acquired a new position in shares of City in the third quarter valued at approximately $237,000. 72.43% of the stock is owned by institutional investors and hedge funds.

About City

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.