City (NASDAQ:CHCO) Receives “Neutral” Rating from Boenning Scattergood

Boenning Scattergood reaffirmed their neutral rating on shares of City (NASDAQ:CHCO) in a research note issued to investors on Thursday, Zacks.com reports.

Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of City from a sell rating to a hold rating in a research report on Wednesday, April 17th. BidaskClub cut shares of City from a buy rating to a hold rating in a research report on Wednesday, March 6th. Finally, Hovde Group initiated coverage on shares of City in a research report on Monday, June 3rd. They issued a market perform rating and a $76.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $78.67.

NASDAQ CHCO opened at $73.85 on Thursday. City has a 52 week low of $65.32 and a 52 week high of $83.27. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.75 and a beta of 0.80.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. City had a net margin of 31.16% and a return on equity of 15.10%. The firm had revenue of $55.99 million during the quarter, compared to analysts’ expectations of $55.33 million. As a group, equities analysts expect that City will post 5.29 earnings per share for the current year.

In other news, EVP Craig G. Stilwell sold 645 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $79.25, for a total value of $51,116.25. Following the completion of the transaction, the executive vice president now directly owns 21,661 shares in the company, valued at $1,716,634.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $80.27, for a total transaction of $642,160.00. Following the completion of the transaction, the chief executive officer now owns 62,157 shares of the company’s stock, valued at $4,989,342.39. The disclosure for this sale can be found here. Insiders sold 14,173 shares of company stock valued at $1,131,079 over the last quarter. Insiders own 3.36% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC boosted its holdings in shares of City by 3.3% in the first quarter. Mason Street Advisors LLC now owns 5,334 shares of the bank’s stock valued at $406,000 after acquiring an additional 168 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its stake in City by 5.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 4,156 shares of the bank’s stock valued at $317,000 after purchasing an additional 210 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in City by 10.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 3,073 shares of the bank’s stock valued at $208,000 after purchasing an additional 290 shares during the last quarter. Comerica Bank lifted its stake in City by 2.1% during the first quarter. Comerica Bank now owns 16,424 shares of the bank’s stock valued at $1,292,000 after purchasing an additional 332 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in City by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 8,908 shares of the bank’s stock valued at $602,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

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