City (NASDAQ:CHCO) Given New $125.00 Price Target at Piper Sandler

City (NASDAQ:CHCO) had its target price trimmed by Piper Sandler from $135.00 to $125.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price target on City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

City Stock Down 2.5 %

Shares of NASDAQ CHCO opened at $115.84 on Friday. City has a one year low of $97.50 and a one year high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average price is $123.97 and its 200-day moving average price is $120.05. The stock has a market capitalization of $1.70 billion, a PE ratio of 14.87 and a beta of 0.51.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.60% and a net margin of 31.18%. On average, equities research analysts anticipate that City will post 7.85 EPS for the current year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.73%. City’s dividend payout ratio (DPR) is 40.56%.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 6,065 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the transaction, the chief executive officer now directly owns 44,974 shares in the company, valued at $5,847,969.22. This represents a 11.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Derito sold 1,243 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the transaction, the executive vice president now owns 28,757 shares in the company, valued at $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,092 shares of company stock valued at $1,196,697. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On City

A number of institutional investors have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its stake in City by 4.1% in the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock worth $524,000 after acquiring an additional 176 shares during the last quarter. KBC Group NV increased its position in shares of City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after purchasing an additional 317 shares during the last quarter. Franklin Resources Inc. increased its position in shares of City by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 404 shares during the last quarter. Geode Capital Management LLC increased its position in shares of City by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock valued at $41,792,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Barclays PLC increased its position in shares of City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock valued at $3,385,000 after purchasing an additional 16,044 shares during the last quarter. 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.