Piper Sandler Has Lowered Expectations for City (NASDAQ:CHCO) Stock Price

City (NASDAQ:CHCOGet Free Report) had its price objective reduced by analysts at Piper Sandler from $135.00 to $125.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price would indicate a potential upside of 7.91% from the company’s current price.

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

View Our Latest Analysis on CHCO

City Stock Down 2.5 %

Shares of CHCO stock opened at $115.84 on Friday. 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 has a one year low of $97.50 and a one year high of $137.28. The company’s fifty day moving average price is $123.97 and its 200-day moving average price is $120.14. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.87 and a beta of 0.51.

City (NASDAQ:CHCOGet Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, beating 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%. Sell-side analysts expect that City will post 7.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the sale, the chief executive officer now directly owns 44,974 shares in the company, valued at $5,847,969.22. The trade was a 11.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Derito sold 1,243 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,092 shares of company stock valued at $1,196,697 in the last quarter. 2.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On City

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in City by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock worth $58,542,000 after buying an additional 10,740 shares during the period. Intech Investment Management LLC purchased a new position in shares of City during the 2nd quarter worth about $208,000. Public Sector Pension Investment Board boosted its stake in shares of 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 purchasing an additional 2,160 shares during the period. Squarepoint Ops LLC raised its position in City by 137.5% in the 2nd 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 stake in City by 20.9% in the second quarter. AQR Capital Management LLC now owns 4,038 shares of the bank’s stock worth $429,000 after purchasing an additional 697 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

(Get Free Report)

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.

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