Keefe, Bruyette & Woods Reiterates Market Perform Rating for City (NASDAQ:CHCO)

Keefe, Bruyette & Woods reissued their market perform rating on shares of City (NASDAQ:CHCO) in a research report sent to investors on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $110.00 price objective on the bank’s stock, up from their previous price objective of $100.00.

Other equities analysts have also issued reports about the stock. Piper Sandler boosted their price target on shares of City from $103.00 to $105.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. Stephens boosted their price target on shares of City from $98.00 to $100.00 and gave the stock an equal weight rating in a research report on Thursday, January 25th.

City Stock Down 1.0 %

Shares of NASDAQ CHCO opened at $104.11 on Thursday. The company’s 50-day simple moving average is $101.82 and its 200-day simple moving average is $101.31. City has a 52-week low of $82.53 and a 52-week high of $115.89. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 13.10 and a beta of 0.51. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

City Announces Dividend

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

Insiders Place Their Bets

In other City 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 transaction of $898,799.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other City 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 transaction of $898,799.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Derito sold 1,309 shares of the business’s stock in a transaction that occurred on 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 directly owns 28,620 shares in the company, valued at $2,897,775. The disclosure for this sale can be found here. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On City

A number of institutional investors and hedge funds have recently made changes to their positions in CHCO. SG Americas Securities LLC purchased a new stake in shares of City in the 3rd quarter valued at approximately $806,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in City by 28.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock worth $323,000 after buying an additional 789 shares during the period. Teacher Retirement System of Texas increased its stake in City by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock worth $985,000 after buying an additional 301 shares during the period. Victory Capital Management Inc. increased its stake in City by 21.4% during the 3rd quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock worth $818,000 after buying an additional 1,594 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in City during the 3rd quarter worth approximately $407,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Company Profile

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.