City Holding Company (NASDAQ:CHCO) Receives $133.25 Average Target Price from Brokerages

Shares of City Holding Company (NASDAQ:CHCO) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $133.25.

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research report on Sunday. Zacks Research lowered City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Hovde Group increased their target price on City from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Finally, DA Davidson raised their target price on City from $128.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, July 24th.

Institutional Trading of City

Hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co grew its position in City by 3.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 12,267 shares of the bank’s stock worth $1,521,000 after purchasing an additional 415 shares during the last quarter. Caxton Associates LLP acquired a new stake in City during the third quarter worth about $227,000. Dark Forest Capital Management LP increased its stake in City by 12.8% during the third quarter. Dark Forest Capital Management LP now owns 21,657 shares of the bank’s stock valued at $2,683,000 after acquiring an additional 2,450 shares during the period. Verition Fund Management LLC increased its stake in City by 110.2% during the third quarter. Verition Fund Management LLC now owns 4,255 shares of the bank’s stock valued at $527,000 after acquiring an additional 2,231 shares during the period. Finally, Quarry LP acquired a new position in City in the 3rd quarter valued at approximately $32,000. 72.43% of the stock is owned by institutional investors.

City Stock Up 0.8%

Shares of CHCO stock opened at $118.29 on Friday. The stock’s 50 day simple moving average is $121.84 and its 200 day simple moving average is $122.43. City has a twelve month low of $102.22 and a twelve month high of $137.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.60 and a beta of 0.54.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 EPS for the quarter, beating the consensus estimate of $2.15 by $0.26. City had a return on equity of 16.66% and a net margin of 32.33%.The company had revenue of $61.29 million for the quarter, compared to the consensus estimate of $80.17 million. As a group, research analysts predict that City will post 7.58 EPS for the current year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were paid a $0.87 dividend. The ex-dividend date was Wednesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. City’s dividend payout ratio is 40.00%.

City Company Profile

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.