City (NASDAQ:CHCO) Receives “Neutral” Rating from Piper Sandler

City (NASDAQ:CHCO)‘s stock had its “neutral” rating reissued by Piper Sandler in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $135.00 price target on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 5.01% from the stock’s current price.

City Stock Down 3.7 %

Shares of CHCO opened at $128.56 on Friday. The company has a 50-day simple moving average of $117.67 and a 200-day simple moving average of $111.83. The firm has a market capitalization of $1.89 billion, a P/E ratio of 16.50 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 0.82. City has a 52 week low of $92.76 and a 52 week high of $135.83.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, equities research analysts expect that City will post 7.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the transaction, the director now owns 23,637 shares of the company’s stock, valued at $3,151,521.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the transaction, the director now owns 23,637 shares of the company’s stock, valued at $3,151,521.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now directly owns 18,233 shares in the company, valued at $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,384 shares of company stock valued at $422,233 over the last quarter. Corporate insiders own 2.39% of the company’s stock.

Institutional Trading of City

Several large investors have recently added to or reduced their stakes in CHCO. GAMMA Investing LLC grew its stake in City by 95.8% during the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after buying an additional 113 shares during the last quarter. nVerses Capital LLC bought a new stake in City during the third quarter worth about $59,000. Bessemer Group Inc. grew its stake in City by 90.7% during the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after buying an additional 604 shares during the last quarter. SG Americas Securities LLC bought a new stake in City during the first quarter worth about $180,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of City during the third quarter valued at approximately $199,000. 72.43% of the stock is owned by institutional investors.

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.