City Holding Company (NASDAQ:CHCO) Stock Has Average Target Price of $140.00 According to Brokerages

Shares of City Holding Company (NASDAQ:CHCO) have received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $140.00.

Several research analysts have commented on CHCO shares. Hovde Group boosted their price objective on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on City from $145.00 to $147.00 and gave the stock a “hold” rating in a research note on Tuesday, October 27th. Jefferies Financial Group initiated coverage on City in a report on Tuesday, November 10th. They issued a “buy” rating on the stock. Finally, Weiss Ratings lowered City from a “buy (a)” rating to a “buy (a-)” rating in a research note on Wednesday, November 4th.

City Price Performance

CHCO stock traded up $0.46 during mid-day trading on Tuesday, hitting $142.45. The stock had a trading volume of 77,501 shares, compared to its average volume of 120,237. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. City has a 52 week low of $113.21 and a 52 week high of $148.99. The firm has a market capitalization of $2.01 billion, a P/E ratio of 15.55 and a beta of 0.49. The firm has a fifty day simple moving average of $142.08 and a 200 day simple moving average of $132.52.

City (NASDAQ:CHCO) last issued its earnings results on Monday, October 26th. The bank reported $2.43 EPS for the quarter, beating the consensus estimate of $2.36 by $0.07. The company had revenue of $84.04 million during the quarter, compared to analysts’ expectations of $83.07 million. City had a net margin of 32.31% and a return on equity of 16.34%. As a group, research analysts forecast that City will post 9.37 EPS for the current year.

City Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, October 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. This is an increase from City’s previous quarterly dividend of $0.87. City’s dividend payout ratio is currently 43.67%.

Insider Activity

In other City news, EVP Jeffrey Legge sold 512 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $145.30, for a total transaction of $74,393.60. Following the completion of the transaction, the executive vice president owned 7,656 shares of the company’s stock, valued at approximately $1,112,416.80. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sharon H. Rowe sold 400 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $143.96, for a total transaction of $57,584.00. Following the completion of the transaction, the director directly owned 10,576 shares of the company’s stock, valued at $1,522,520.96. This trade represents a 3.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 480 shares of company stock worth $68,222 over the last ninety days. 1.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On City

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in City in the 2nd quarter worth about $270,231,000. Bank of New York Mellon Corp acquired a new stake in shares of City during the second quarter valued at about $15,012,000. ProShare Advisors LLC boosted its stake in shares of City by 3,506.4% during the third quarter. ProShare Advisors LLC now owns 72,597 shares of the bank’s stock valued at $10,100,000 after purchasing an additional 70,584 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of City during the second quarter valued at about $4,585,000. Finally, Bank of America Corp DE bought a new stake in shares of City during the second quarter worth about $4,181,000. Institutional investors own 72.43% of the company’s stock.

About City

City Holding Company (NASDAQ: CHCO) is a financial holding company headquartered in Charleston, West Virginia. Its principal subsidiary, City National Bank of West Virginia, provides banking and related financial services to individuals, businesses and organizations. The bank offers deposit accounts, consumer and commercial lending, mortgage services, and online and mobile banking. It also provides wealth management, trust and investment services, and insurance through its affiliated businesses.