City’s (CHCO) Neutral Rating Reiterated at Piper Sandler

City (NASDAQ:CHCO)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a research report issued on Friday, Marketbeat reports. They presently have a $135.00 price objective on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 3.23% from the stock’s previous close.

City Stock Up 1.7 %

NASDAQ CHCO opened at $130.77 on Friday. 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 52 week low of $92.76 and a 52 week high of $135.83. The business’s fifty day simple moving average is $117.91 and its 200-day simple moving average is $112.07. The firm has a market cap of $1.92 billion, a PE ratio of 16.79 and a beta of 0.46.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.10. The company had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. As a group, equities analysts anticipate that City will post 7.81 earnings per share for the current year.

Insider Buying and Selling

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the transaction, the executive vice president now owns 2,000 shares of the company’s stock, valued at $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Rossi sold 1,000 shares of City stock in a transaction on Friday, August 16th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the sale, the director now directly owns 18,233 shares of the company’s stock, valued at $2,096,795. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,384 shares of company stock valued at $422,233. 2.45% of the stock is currently owned by insiders.

Institutional Trading of City

Several hedge funds have recently made changes to their positions in CHCO. GAMMA Investing LLC lifted its holdings in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after buying an additional 113 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of City during the third quarter worth $59,000. Bessemer Group Inc. increased its position in shares of City by 90.7% during the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after acquiring an additional 604 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of City in the third quarter valued at $199,000. Finally, SG Americas Securities LLC purchased a new position in City in the first quarter valued at $180,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

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.