City (NASDAQ:CHCO) Raised to “Hold” at StockNews.com

City (NASDAQ:CHCOGet Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

CHCO has been the topic of a number of other research reports. Janney Montgomery Scott assumed coverage on shares of City in a report on Tuesday, September 6th. They set a “neutral” rating and a $91.00 target price on the stock. DA Davidson reissued a “neutral” rating on shares of City in a research note on Wednesday, July 27th.

City Trading Up 0.5 %

City stock opened at $88.53 on Wednesday. The firm’s 50 day simple moving average is $85.70 and its 200 day simple moving average is $81.52. The firm has a market capitalization of $1.32 billion, a PE ratio of 14.93 and a beta of 0.57. City has a 1-year low of $72.29 and a 1-year high of $90.96.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On City

Institutional investors have recently made changes to their positions in the business. Swiss National Bank boosted its stake in shares of City by 5.9% in the 1st quarter. Swiss National Bank now owns 35,800 shares of the bank’s stock valued at $2,817,000 after purchasing an additional 2,000 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of City by 33.6% in the 1st quarter. TD Asset Management Inc. now owns 66,400 shares of the bank’s stock valued at $5,226,000 after purchasing an additional 16,700 shares in the last quarter. Carolina Wealth Advisors LLC boosted its stake in shares of City by 2.1% in the 1st quarter. Carolina Wealth Advisors LLC now owns 44,405 shares of the bank’s stock valued at $3,495,000 after purchasing an additional 906 shares in the last quarter. Barclays PLC boosted its stake in shares of City by 45.4% in the 4th quarter. Barclays PLC now owns 29,367 shares of the bank’s stock valued at $2,402,000 after purchasing an additional 9,171 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in shares of City by 4.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 11,697 shares of the bank’s stock valued at $921,000 after purchasing an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 67.34% of the company’s stock.

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.

Featured Stories

Receive News & Ratings for City Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City and related companies with MarketBeat.com's FREE daily email newsletter.