Piper Sandler Lowers City (NASDAQ:CHCO) Price Target to $125.00

City (NASDAQ:CHCO - Get Free Report) had its target price reduced by equities researchers at Piper Sandler from $135.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. Piper Sandler's target price indicates a potential upside of 7.91% from the company's previous close.

Separately, Keefe, Bruyette & Woods upped their price target 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 Down 2.5 %

Shares of City stock traded down $2.95 on Friday, reaching $115.84. The company's stock had a trading volume of 68,790 shares, compared to its average volume of 53,859. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.87 and a beta of 0.51. The firm's fifty day simple moving average is $123.97 and its two-hundred day simple moving average is $120.05. City has a 52 week low of $97.50 and a 52 week high of $137.28. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS 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%. Equities analysts anticipate that City will post 7.85 earnings per share for the current year.

Insider Activity at City

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 44,974 shares of the company's stock, valued at $5,847,969.22. This trade represents a 11.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the transaction, the director now directly owns 23,637 shares of the company's stock, valued at $3,151,521.21. The trade was 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 have sold 9,092 shares of company stock valued at $1,196,697. 2.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On City

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank's stock worth $3,385,000 after purchasing an additional 16,044 shares during the period. Franklin Resources Inc. raised its holdings in shares of City by 4.5% in the third quarter. Franklin Resources Inc. now owns 9,362 shares of the bank's stock valued at $1,116,000 after acquiring an additional 404 shares in the last quarter. Jane Street Group LLC lifted its stake in City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank's stock worth $2,937,000 after acquiring an additional 9,999 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in City by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank's stock worth $62,044,000 after acquiring an additional 15,910 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in City by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank's stock valued at $41,792,000 after purchasing an additional 1,065 shares during the period. 72.43% of the stock is currently owned by institutional investors.

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.