Piper Sandler Forecasts Strong Price Appreciation for City (NASDAQ:CHCO) Stock

City (NASDAQ:CHCO) had its price objective hoisted by stock analysts at Piper Sandler from $125.00 to $130.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would indicate a potential upside of 2.73% from the stock’s previous close.

CHCO has been the topic of a number of other reports. Wall Street Zen lowered City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a research note on Tuesday, December 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $134.50.

City Price Performance

CHCO stock opened at $126.54 on Friday. The company has a market capitalization of $1.82 billion, a P/E ratio of 14.15 and a beta of 0.52. The company has a fifty day moving average price of $122.58 and a 200-day moving average price of $123.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. City has a 52-week low of $102.22 and a 52-week high of $133.59.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.81%. The company had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. As a group, equities analysts expect that City will post 7.58 EPS for the current year.

Insider Buying and Selling at City

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $120.68, for a total value of $243,411.56. Following the completion of the transaction, the chief executive officer owned 50,359 shares in the company, valued at approximately $6,077,324.12. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp grew its stake in shares of City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock valued at $78,247,000 after purchasing an additional 6,371 shares during the period. City Holding Co. grew its holdings in City by 3.0% during the second quarter. City Holding Co. now owns 263,664 shares of the bank’s stock valued at $32,278,000 after purchasing an additional 7,636 shares during the period. JPMorgan Chase & Co. increased its holdings in City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after acquiring an additional 22,536 shares in the last quarter. Two Sigma Investments LP raised its stake 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 period. Finally, Axxcess Wealth Management LLC boosted its position in shares of City by 0.4% in the second quarter. Axxcess Wealth Management LLC now owns 109,751 shares of the bank’s stock worth $13,436,000 after purchasing an additional 485 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

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.