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

City (NASDAQ:CHCO) had its price target boosted by investment analysts at Hovde Group from $110.00 to $113.00 in a research report issued on Thursday, Briefing.com reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s price objective would indicate a potential upside of 8.67% from the stock’s previous close.

CHCO has been the topic of a number of other reports. Piper Sandler lifted their target price on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $110.00 price objective (up previously from $100.00) on shares of City in a research report on Thursday, April 25th. Finally, Stephens dropped their target price on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, City has a consensus rating of “Hold” and an average target price of $106.75.

City Stock Up 2.9 %

CHCO opened at $103.98 on Thursday. City has a fifty-two week low of $82.53 and a fifty-two week high of $115.89. The company’s 50-day moving average is $101.80 and its 200 day moving average is $101.47. The firm has a market capitalization of $1.55 billion, a P/E ratio of 13.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81.

Insider Buying and Selling at City

In other news, CEO Charles R. Hageboeck sold 8,899 shares of City stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the completion of the transaction, the chief executive officer now owns 53,218 shares in the company, valued at $5,375,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other City news, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.25, for a total value of $132,536.25. Following the transaction, the executive vice president now directly owns 28,620 shares in the company, valued at approximately $2,897,775. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were 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 in the company, valued at approximately $5,375,018. The disclosure for this sale can be found here. Insiders have sold a total of 11,981 shares of company stock valued at $1,217,039 over the last three months. 2.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of City by 4.2% in the 3rd 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. Axxcess Wealth Management LLC grew its position in City by 577.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank’s stock worth $11,938,000 after acquiring an additional 92,276 shares in the last quarter. Norges Bank bought a new position in City in the fourth quarter valued at $10,953,000. Principal Financial Group Inc. raised its position in City by 1.2% during the first quarter. Principal Financial Group Inc. now owns 83,542 shares of the bank’s stock valued at $8,707,000 after purchasing an additional 999 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in City by 4.4% during the third quarter. American Century Companies Inc. now owns 69,998 shares of the bank’s stock worth $6,324,000 after purchasing an additional 2,924 shares during the last quarter. Hedge funds and other institutional investors 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.