City (NASDAQ:CHCO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

City (NASDAQ:CHCO) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $145.00 to $147.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the bank’s stock. Keefe, Bruyette & Woods‘s price target indicates a potential upside of 3.76% from the company’s previous close.

A number of other research analysts have also recently weighed in on CHCO. Hovde Group lifted their target price on City from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings raised City from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, City has an average rating of “Moderate Buy” and a consensus price target of $140.00.

City Stock Down 0.8%

NASDAQ:CHCO opened at $141.67 on Tuesday. The firm’s 50 day moving average is $142.38 and its two-hundred day moving average is $131.20. City has a fifty-two week low of $113.21 and a fifty-two week high of $148.99.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Monday, October 26th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.07. The company had revenue of $84.04 million for the quarter, compared to analysts’ expectations of $83.07 million. On average, analysts forecast that City will post 9.32 EPS for the current year.

Insider Activity at City

In other news, CEO Charles Hageboeck sold 4,485 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the transaction, the chief executive officer owned 43,998 shares of the company’s stock, valued at approximately $6,377,950.08. This trade represents a 9.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sharon H. Rowe sold 400 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total transaction of $57,584.00. Following the completion of the transaction, the director directly owned 10,576 shares in the company, valued at approximately $1,522,520.96. This represents a 3.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 480 shares of company stock valued at $68,222. 1.75% of the stock is owned by insiders.

Institutional Trading of City

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of City during the second quarter worth about $270,231,000. Dimensional Fund Advisors LP boosted its position in shares of City by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after buying an additional 8,992 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of City in the second quarter worth about $15,012,000. Principal Financial Group Inc. grew its stake in shares of City by 2.1% in the first quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock valued at $8,398,000 after buying an additional 1,460 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of City by 35.2% in the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after buying an additional 16,060 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Company Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.