Piper Sandler Issues Pessimistic Forecast for City (NASDAQ:CHCO) Stock Price

City (NASDAQ:CHCO) had its price target decreased by investment analysts at Piper Sandler from $135.00 to $125.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would indicate a potential upside of 7.45% from the company’s previous close.

Separately, Keefe, Bruyette & Woods lifted their target price on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

City Stock Performance

Shares of NASDAQ CHCO traded down $2.46 during mid-day trading on Friday, hitting $116.33. The company had a trading volume of 18,177 shares, compared to its average volume of 64,249. City has a 12 month low of $97.50 and a 12 month high of $137.28. The firm has a market cap of $1.71 billion, a P/E ratio of 14.94 and a beta of 0.51. The business’s 50-day simple moving average is $124.25 and its 200-day simple moving average is $119.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.60% and a net margin of 31.18%. As a group, analysts predict that City will post 7.85 earnings per share for the current fiscal year.

Insider Buying and Selling at City

In related news, CEO Charles R. Hageboeck sold 6,065 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the sale, the chief executive officer now owns 44,974 shares of the company’s stock, valued at $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares of the company’s stock, valued at $3,151,521.21. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,092 shares of company stock worth $1,196,697. 2.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On City

Several large investors have recently bought and sold shares of CHCO. Dimensional Fund Advisors LP raised its position in shares of City by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after acquiring an additional 10,740 shares during the period. Intech Investment Management LLC acquired a new position in shares of City in the 2nd quarter valued at $208,000. Public Sector Pension Investment Board raised its stake in City by 7.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 32,497 shares of the bank’s stock worth $3,453,000 after buying an additional 2,160 shares during the period. Squarepoint Ops LLC raised its position in shares of City by 137.5% during the second quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after purchasing an additional 6,312 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of City by 20.9% during the 2nd quarter. AQR Capital Management LLC now owns 4,038 shares of the bank’s stock valued at $429,000 after purchasing an additional 697 shares in the last quarter. 72.43% of the stock is currently 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.