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

City (NASDAQ:CHCO) had its price objective upped by Hovde Group from $110.00 to $113.00 in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has a market perform rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the company. Stephens decreased their price target on City from $100.00 to $99.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods reaffirmed 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, Piper Sandler boosted their price target 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. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, City currently has an average rating of Hold and an average target price of $106.75.

City Trading Down 0.3 %

NASDAQ:CHCO traded down $0.29 during trading hours on Thursday, hitting $104.47. 60,433 shares of the stock were exchanged, compared to its average volume of 58,936. The company has a market capitalization of $1.55 billion, a P/E ratio of 13.14 and a beta of 0.50. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $102.01 and its two-hundred day moving average is $101.66. City has a twelve month low of $82.53 and a twelve month high of $115.89.

City Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $0.715 dividend. The ex-dividend date was Friday, April 12th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.74%. City’s dividend payout ratio (DPR) is presently 35.97%.

Insider Activity at City

In other City news, CEO Charles R. Hageboeck sold 8,899 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the completion of the sale, the chief executive officer now owns 53,218 shares of the company’s stock, valued at $5,375,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other City news, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $101.00, for a total transaction of $898,799.00. Following the transaction, the chief executive officer now directly owns 53,218 shares in the company, valued at $5,375,018. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $105.02, for a total value of $262,550.00. Following the completion of the sale, the chief accounting officer now owns 7,194 shares of the company’s stock, valued at $755,513.88. The disclosure for this sale can be found here. Insiders have sold 15,980 shares of company stock worth $1,634,286 in the last ninety days. Company insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHCO. SG Americas Securities LLC bought a new stake in City in the 3rd quarter valued at $806,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of City by 28.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock valued at $323,000 after purchasing an additional 789 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of City by 2.8% during the third quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock worth $985,000 after buying an additional 301 shares in the last quarter. Victory Capital Management Inc. raised its position in City by 21.4% in the 3rd quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock valued at $818,000 after buying an additional 1,594 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in City in the 3rd quarter valued at approximately $407,000. Institutional investors own 72.43% of the company’s stock.

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.