City (NASDAQ:CHCO) Reaches New 12-Month High on Analyst Upgrade

City Holding Company (NASDAQ:CHCO)’s share price reached a new 52-week high on Tuesday after Hovde Group raised their price target on the stock from $135.00 to $143.00. Hovde Group currently has a market perform rating on the stock. City traded as high as $144.56 and last traded at $143.90, with a volume of 159410 shares. The stock had previously closed at $139.62.

Separately, Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $136.50.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 1,858 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $124.40, for a total value of $231,135.20. Following the completion of the transaction, the chief executive officer directly owned 48,483 shares in the company, valued at approximately $6,031,285.20. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the sale, the executive vice president directly owned 7,656 shares of the company’s stock, valued at approximately $957,000. The trade was a 14.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have acquired 544 shares of company stock worth $71,900 and have sold 5,535 shares worth $689,777. 1.75% of the stock is currently owned by company insiders.

City News Summary

Here are the key news stories impacting City this week:

• Positive Sentiment: Analyst upgrade supports momentum: City Holding reached a new 52-week high after receiving an analyst upgrade, providing a positive catalyst for CHCO. City Hits New 52-Week High After Analyst Upgrade
• Positive Sentiment: Multiple director purchases: Directors Robert D. Fisher, Diane W. Strong-Treister, James A. Hoyer and Javier A. Reyes collectively bought 444 shares at $134.55 each, investing approximately $59,740. The purchases increased their individual holdings and may reinforce investor confidence in the bank’s prospects. Robert Fisher SEC filing
• Positive Sentiment: Income-investment appeal: A recent analysis highlighted City Holding as a potential dividend-stock choice, which could attract investors seeking reliable shareholder returns. City Holding Could Be a Great Choice
• Neutral Sentiment: Higher target but cautious rating: Hovde Group raised its price target from $135 to $143 while maintaining a “market perform” rating. The increase reflects improved valuation expectations, but the neutral rating limits the bullishness of the call.

Institutional Investors Weigh In On City

Several institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP boosted its position in City by 136.4% during the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after acquiring an additional 71,436 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of City by 55.0% in the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock worth $7,373,000 after purchasing an additional 21,898 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of City in the second quarter worth $2,216,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in City during the fourth quarter worth $2,157,000. 72.43% of the stock is owned by institutional investors.

City Trading Up 0.7%

The firm has a market cap of $2.04 billion, a P/E ratio of 15.85 and a beta of 0.49. The business’s 50-day moving average is $130.84 and its two-hundred day moving average is $125.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.38%. As a group, analysts predict that City Holding Company will post 9.14 earnings per share for the current fiscal year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 annualized dividend and a yield of 2.4%. City’s dividend payout ratio is 38.07%.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.