City’s (CHCO) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of City (NASDAQ:CHCO) in a report published on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $110.00 price target on the bank’s stock, up from their prior price target of $100.00.

Other equities research analysts also recently issued research reports about the company. Stephens raised their price target on City from $98.00 to $100.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Piper Sandler raised their price target on City from $103.00 to $105.00 and gave the company a neutral rating in a report on Thursday, February 1st.

City Price Performance

Shares of CHCO opened at $105.21 on Thursday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 13.23 and a beta of 0.51. City has a twelve month low of $82.53 and a twelve month high of $115.89. The company has a 50 day moving average of $101.76 and a 200-day moving average of $101.08. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). The company had revenue of $86.10 million during the quarter, compared to analyst estimates of $72.50 million. City had a net margin of 33.78% and a return on equity of 18.31%. As a group, equities research analysts forecast that City will post 7.51 EPS for the current fiscal year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio is currently 35.97%.

Insider Transactions at City

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $101.00, for a total value of $898,799.00. Following the transaction, the chief executive officer now owns 53,218 shares in the company, valued at $5,375,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $101.00, for a total value of $898,799.00. Following the transaction, the chief executive officer now owns 53,218 shares in the company, valued at $5,375,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $132,536.25. Following the completion of the transaction, the executive vice president now owns 28,620 shares in the company, valued at approximately $2,897,775. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in City by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock valued at $35,940,000 after acquiring an additional 16,123 shares during the last quarter. Axxcess Wealth Management LLC grew its position in City by 577.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank’s stock valued at $11,938,000 after acquiring an additional 92,276 shares during the last quarter. Norges Bank bought a new position in City in the fourth quarter valued at about $10,953,000. American Century Companies Inc. grew its position in City by 4.4% in the third quarter. American Century Companies Inc. now owns 69,998 shares of the bank’s stock valued at $6,324,000 after acquiring an additional 2,924 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in City by 8.1% in the third quarter. Public Employees Retirement System of Ohio now owns 40,092 shares of the bank’s stock valued at $3,622,000 after acquiring an additional 3,007 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

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.