BidaskClub Lowers City (CHCO) to Strong Sell

City (NASDAQ:CHCO) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, January 9th.

A number of other brokerages have also recently commented on CHCO. Zacks Investment Research raised City from a “sell” rating to a “hold” rating and set a $78.00 price target for the company in a research note on Friday, December 22nd. Sandler O’Neill set a $72.00 target price on City and gave the stock a “hold” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $70.75.

Shares of City (NASDAQ CHCO) opened at $69.05 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $1,078.42, a PE ratio of 17.48, a PEG ratio of 1.93 and a beta of 0.77. City has a 52 week low of $58.80 and a 52 week high of $74.90.

In related news, CFO David L. Bumgarner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,965 shares of the company’s stock, valued at approximately $800,445. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.88% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. McKinley Carter Wealth Services Inc. bought a new stake in City during the 4th quarter worth approximately $225,000. Assenagon Asset Management S.A. acquired a new position in City during the 4th quarter worth approximately $3,237,000. Schwab Charles Investment Management Inc. boosted its position in City by 3.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 73,912 shares of the bank’s stock worth $4,987,000 after acquiring an additional 2,298 shares during the last quarter. Walthausen & Co. LLC boosted its position in City by 14.1% during the 3rd quarter. Walthausen & Co. LLC now owns 177,187 shares of the bank’s stock worth $12,742,000 after acquiring an additional 21,850 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in City during the 3rd quarter worth approximately $315,000. 64.79% of the stock is owned by institutional investors and hedge funds.

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City Company Profile

City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.

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