City (NASDAQ:CHCO) Given Neutral Rating at Piper Sandler

City (NASDAQ:CHCO)‘s stock had its “neutral” rating reaffirmed by Piper Sandler in a research note issued on Friday, Marketbeat reports. They presently have a $135.00 target price on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 5.01% from the company’s current price.

City Trading Down 3.7 %

City stock opened at $128.56 on Friday. The company’s fifty day simple moving average is $117.67 and its 200-day simple moving average is $111.83. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. City has a 12 month low of $92.76 and a 12 month high of $135.83. The stock has a market cap of $1.89 billion, a P/E ratio of 16.50 and a beta of 0.46.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10. City had a net margin of 31.18% and a return on equity of 16.60%. The business had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $73.90 million. As a group, sell-side analysts forecast that City will post 7.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $231,240. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $231,240. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director C Dallas Kayser sold 1,784 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares of the company’s stock, valued at $3,151,521.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,384 shares of company stock worth $422,233. Corporate insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On City

A number of hedge funds have recently bought and sold shares of CHCO. Mirae Asset Global Investments Co. Ltd. bought a new stake in City during the first quarter valued at about $1,133,000. BNP Paribas Financial Markets boosted its holdings in City by 48.5% during the first quarter. BNP Paribas Financial Markets now owns 7,260 shares of the bank’s stock valued at $757,000 after acquiring an additional 2,370 shares during the period. Texas Permanent School Fund Corp boosted its holdings in City by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank’s stock valued at $1,350,000 after acquiring an additional 140 shares during the period. SG Americas Securities LLC bought a new stake in City during the first quarter valued at about $180,000. Finally, Russell Investments Group Ltd. boosted its holdings in City by 6.6% during the first quarter. Russell Investments Group Ltd. now owns 10,459 shares of the bank’s stock valued at $1,090,000 after acquiring an additional 650 shares during the period. 72.43% of the stock is currently 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.