City Holding Company (NASDAQ:CHCO) Receives $134.25 Average Price Target from Analysts

Shares of City Holding Company (NASDAQ:CHCO) have earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $134.25.

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Hovde Group raised their price objective on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th.

City Price Performance

Shares of City stock opened at $121.61 on Friday. The firm has a fifty day moving average price of $121.97 and a two-hundred day moving average price of $122.40. The company has a market cap of $1.72 billion, a PE ratio of 13.39 and a beta of 0.50. City has a fifty-two week low of $113.21 and a fifty-two week high of $133.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. The company had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. Analysts expect that City will post 8.99 EPS for the current year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 15th. City’s dividend payout ratio (DPR) is presently 38.33%.

City declared that its board has approved a share repurchase program on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the completion of the sale, the executive vice president owned 3,314 shares in the company, valued at $417,862.26. This trade represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles R. Hageboeck sold 5,855 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $125.30, for a total transaction of $733,631.50. Following the sale, the chief executive officer owned 50,341 shares of the company’s stock, valued at $6,307,727.30. This trade represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 908 shares of company stock worth $108,939 and sold 9,117 shares worth $1,143,121. 1.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On City

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in shares of City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock worth $78,247,000 after purchasing an additional 6,371 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of City by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock worth $70,740,000 after purchasing an additional 6,552 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of City by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after purchasing an additional 8,992 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of City by 0.6% during the 4th quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock worth $25,443,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of City by 136.4% during the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after purchasing an additional 71,436 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.