BidaskClub upgraded shares of City (NASDAQ:CHCO) from a sell rating to a hold rating in a report released on Monday.
Several other equities analysts have also recently commented on the stock. Boenning Scattergood reaffirmed a hold rating on shares of City in a research note on Wednesday, January 24th. Sandler O’Neill set a $72.00 price objective on shares of City and gave the company a hold rating in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of City from a sell rating to a hold rating and set a $78.00 price objective for the company in a research note on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. City presently has a consensus rating of Hold and an average price target of $70.75.
City (CHCO) opened at $66.80 on Monday. The company has a market cap of $1,028.14, a P/E ratio of 19.14, a P/E/G ratio of 1.84 and a beta of 0.77. City has a 12 month low of $58.80 and a 12 month high of $74.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90.
In other City news, CFO David L. Bumgarner sold 1,000 shares of City stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,965 shares in the company, valued at $800,445. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.88% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in City by 11.9% during the third quarter. Wells Fargo & Company MN now owns 39,488 shares of the bank’s stock valued at $2,839,000 after purchasing an additional 4,198 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in City by 27.7% during the second quarter. UBS Asset Management Americas Inc. now owns 6,461 shares of the bank’s stock valued at $426,000 after purchasing an additional 1,400 shares during the last quarter. Vanguard Group Inc. lifted its position in City by 4.0% during the second quarter. Vanguard Group Inc. now owns 1,469,229 shares of the bank’s stock valued at $96,778,000 after purchasing an additional 57,001 shares during the last quarter. Prudential Financial Inc. lifted its position in City by 21.2% during the third quarter. Prudential Financial Inc. now owns 32,193 shares of the bank’s stock valued at $2,315,000 after purchasing an additional 5,640 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in City by 83.9% during the third quarter. BNP Paribas Arbitrage SA now owns 8,774 shares of the bank’s stock valued at $631,000 after purchasing an additional 4,004 shares during the last quarter. Institutional investors and hedge funds own 64.81% of the company’s stock.
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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