City (NASDAQ:CHCO) Price Target Raised to $113.00 at Hovde Group

City (NASDAQ:CHCO) had its target price boosted by Hovde Group from $110.00 to $113.00 in a research report released on Thursday morning, Marketbeat.com reports. Hovde Group currently has a market perform rating on the bank’s stock.

CHCO has been the topic of a number of other research reports. Piper Sandler raised their price target on shares of City from $103.00 to $105.00 and gave the company a neutral rating in a report on Thursday, February 1st. Stephens decreased their price target on City from $100.00 to $99.00 and set an equal weight rating for the company in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods restated a market perform rating and issued a $110.00 target price (up from $100.00) on shares of City in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $106.75.

City Stock Down 0.3 %

CHCO opened at $104.47 on Thursday. The company has a market capitalization of $1.55 billion, a PE ratio of 13.14 and a beta of 0.50. The business has a 50-day moving average of $102.01 and a 200-day moving average of $101.74. City has a fifty-two week low of $82.53 and a fifty-two week high of $115.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, April 12th. City’s dividend payout ratio is currently 35.97%.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total transaction of $898,799.00. Following the transaction, the chief executive officer now owns 53,218 shares of the company’s stock, valued at $5,375,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $101.00, for a total transaction of $898,799.00. Following the sale, the chief executive officer now directly owns 53,218 shares of the company’s stock, valued at $5,375,018. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the completion of the transaction, the executive vice president now directly owns 28,620 shares of the company’s stock, valued at approximately $2,897,775. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,980 shares of company stock valued at $1,634,286. 2.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On City

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in City by 48.5% in 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in City in the 1st quarter valued at about $1,133,000. Principal Financial Group Inc. lifted its position in shares of City by 1.2% during the first quarter. Principal Financial Group Inc. now owns 83,542 shares of the bank’s stock worth $8,707,000 after purchasing an additional 999 shares in the last quarter. McKinley Carter Wealth Services Inc. grew its stake in shares of City by 215.1% during the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank’s stock valued at $1,682,000 after purchasing an additional 11,019 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of City in the fourth quarter valued at approximately $599,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Company Profile

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.