City (NASDAQ:CHCO) Given New $113.00 Price Target at Hovde Group

City (NASDAQ:CHCO) had its price objective hoisted by Hovde Group from $110.00 to $113.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other research firms have also commented on CHCO. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $110.00 target price (up from $100.00) on shares of City in a report on Thursday, April 25th. Stephens cut their target price on shares of City from $100.00 to $99.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Finally, Piper Sandler increased their price target on shares of City from $103.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $106.75.

City Stock Performance

NASDAQ CHCO traded down $0.29 on Thursday, reaching $104.47. 60,433 shares of the company’s stock traded hands, compared to its average volume of 58,936. 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 quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 13.14 and a beta of 0.50. The stock has a 50 day moving average price of $102.01 and a 200-day moving average price of $101.60.

City Announces Dividend

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

Insiders Place Their Bets

In other news, EVP John A. Derito sold 1,309 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were 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 owns 28,620 shares of the company’s stock, valued at $2,897,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael T. Quinlan, Jr. sold 1,773 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $104.74, for a total value of $185,704.02. Following the transaction, the executive vice president now directly owns 3,400 shares of the company’s stock, valued at $356,116. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.25, for a total transaction of $132,536.25. Following the sale, 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 ninety days, insiders sold 15,980 shares of company stock worth $1,634,286. Company insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. acquired a new position in City during the fourth quarter worth $38,000. Federated Hermes Inc. increased its position in City by 28.0% during the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after purchasing an additional 249 shares during the last quarter. Quantbot Technologies LP raised its stake in City by 206.2% during the third quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after purchasing an additional 1,330 shares during the period. CIC Wealth LLC acquired a new position in City in the 4th quarter valued at about $210,000. Finally, Lido Advisors LLC purchased a new stake in shares of City in the 3rd quarter valued at approximately $237,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.