City (NASDAQ:CHCO) Price Target Increased to $113.00 by Analysts at Hovde Group

City (NASDAQ:CHCO) had its target price increased by analysts at Hovde Group from $110.00 to $113.00 in a research note issued on Thursday, Marketbeat.com reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential upside of 8.17% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Stephens cut their price target on shares of 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 reissued a “market perform” rating and set a $110.00 target price (up from $100.00) on shares of City in a research note on Thursday, April 25th. Finally, Piper Sandler raised their target price on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.75.

City Price Performance

CHCO stock traded down $0.29 during trading hours on Thursday, hitting $104.47. 60,433 shares of the stock traded hands, compared to its average volume of 58,936. The stock has a 50-day simple moving average of $102.01 and a 200 day simple moving average of $101.60. The company has a market cap of $1.55 billion, a P/E ratio of 13.14 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. City has a one year low of $82.53 and a one year high of $115.89.

Insiders Place Their Bets

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’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 transaction of $898,799.00. Following the transaction, 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 SEC, which is available through this hyperlink. In other City news, CEO Charles R. Hageboeck sold 8,899 shares of the stock in a transaction on Thursday, February 29th. The shares were 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 of the company’s stock, valued at $5,375,018. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey Dale Legge sold 2,500 shares of the company’s 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 sale, the chief accounting officer now owns 7,194 shares of the company’s stock, valued at approximately $755,513.88. The disclosure for this sale can be found here. Insiders have sold a total of 15,980 shares of company stock valued at $1,634,286 in the last three months. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On City

Several hedge funds have recently modified their holdings of CHCO. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of City during the 4th quarter worth approximately $38,000. Federated Hermes Inc. increased its holdings in City by 28.0% in the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after buying an additional 249 shares during the period. CIC Wealth LLC acquired a new position in shares of City in the 4th quarter valued at $210,000. Quantbot Technologies LP lifted its holdings in shares of City by 206.2% during the 3rd quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after acquiring an additional 1,330 shares during the period. Finally, Lido Advisors LLC acquired a new stake in shares of City during the 3rd quarter valued at about $237,000. 72.43% of the stock is 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.