City (NASDAQ:CHCO) Price Target Lowered to $99.00 at Stephens

City (NASDAQ:CHCO) had its price objective lowered by Stephens from $100.00 to $99.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other research analysts have also weighed in on CHCO. Piper Sandler raised their target price on City from $103.00 to $105.00 and gave the company a neutral rating in a report on Thursday, February 1st. Keefe, Bruyette & Woods restated a market perform rating and issued a $110.00 target price (up previously from $100.00) on shares of City in a report on Thursday.

City Stock Down 1.0 %

Shares of NASDAQ:CHCO opened at $104.11 on Thursday. City has a 52-week low of $82.53 and a 52-week high of $115.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The business’s 50 day simple moving average is $101.82 and its two-hundred day simple moving average is $101.31. The firm has a market cap of $1.55 billion, a P/E ratio of 13.10 and a beta of 0.51.

City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, April 12th. City’s payout ratio is 35.97%.

Insider Activity at City

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

Institutional Trading of City

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in City by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock worth $35,940,000 after buying an additional 16,123 shares during the last quarter. Deutsche Bank AG increased its position in City by 13.4% in the third quarter. Deutsche Bank AG now owns 7,757 shares of the bank’s stock worth $701,000 after buying an additional 919 shares during the last quarter. Dupree Financial Group LLC purchased a new stake in City in the fourth quarter worth $1,165,000. Illinois Municipal Retirement Fund purchased a new stake in City in the third quarter worth $762,000. Finally, MQS Management LLC purchased a new stake in City in the third quarter worth $247,000. 72.43% of the stock is owned by hedge funds and other 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.