City (NASDAQ:CHCO) Upgraded by StockNews.com to “Hold”

City (NASDAQ:CHCOGet Rating) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other equities research analysts also recently issued research reports about the stock. DA Davidson reaffirmed a “neutral” rating on shares of City in a research note on Wednesday, July 27th. Janney Montgomery Scott started coverage on shares of City in a research note on Tuesday, September 6th. They set a “neutral” rating and a $91.00 price target on the stock.

City Stock Performance

Shares of NASDAQ CHCO opened at $87.04 on Wednesday. City has a 1 year low of $73.40 and a 1 year high of $90.96. The firm’s 50 day moving average price is $86.04 and its 200 day moving average price is $81.64. The firm has a market cap of $1.29 billion, a P/E ratio of 14.68 and a beta of 0.57.

City (NASDAQ:CHCOGet Rating) last announced its earnings results on Thursday, July 21st. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.21. City had a net margin of 37.91% and a return on equity of 13.93%. The firm had revenue of $59.46 million for the quarter, compared to analyst estimates of $56.70 million. As a group, equities analysts predict that City will post 6.42 EPS for the current year.

Insiders Place Their Bets

In other City news, CFO David L. Bumgarner sold 375 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $86.54, for a total transaction of $32,452.50. Following the completion of the transaction, the chief financial officer now directly owns 9,572 shares of the company’s stock, valued at approximately $828,360.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Kenfarb & CO. acquired a new position in shares of City in the 4th quarter valued at about $25,000. Lazard Asset Management LLC acquired a new position in City during the 1st quarter valued at about $27,000. Dixon Hughes Goodman Wealth Advisors LLC boosted its stake in City by 300.0% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 400 shares of the bank’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Quantbot Technologies LP boosted its stake in City by 141.0% during the 2nd quarter. Quantbot Technologies LP now owns 453 shares of the bank’s stock valued at $36,000 after purchasing an additional 265 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in City during the 2nd quarter valued at about $46,000. 67.34% of the stock is owned by institutional investors and hedge funds.

City Company Profile

(Get Rating)

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.

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