TheStreet Downgrades City (NASDAQ:CHCO) to C+

TheStreet cut shares of City (NASDAQ:CHCO) from a b rating to a c+ rating in a research note published on Monday, TheStreetRatingsTable reports.

Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of City from a sell rating to a hold rating in a research report on Tuesday, January 28th. BidaskClub upgraded shares of City from a sell rating to a hold rating in a research report on Thursday, March 19th. DA Davidson restated a neutral rating on shares of City in a research report on Thursday, January 30th. Stephens started coverage on shares of City in a research report on Monday, January 6th. They issued an equal weight rating and a $83.50 price target for the company. Finally, Zacks Investment Research cut shares of City from a hold rating to a sell rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock has a consensus rating of Hold and an average target price of $82.17.

CHCO stock traded up $4.45 during trading on Monday, reaching $64.75. 70,652 shares of the company were exchanged, compared to its average volume of 68,591. The company has a 50-day moving average of $70.67 and a two-hundred day moving average of $76.98. The company has a market capitalization of $986.13 million, a price-to-earnings ratio of 11.95 and a beta of 0.75. City has a twelve month low of $54.03 and a twelve month high of $83.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.88 and a quick ratio of 0.88.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.05. The business had revenue of $57.89 million during the quarter, compared to analysts’ expectations of $57.79 million. City had a net margin of 33.35% and a return on equity of 13.85%. On average, analysts forecast that City will post 5.2 EPS for the current year.

In other City news, Director Diane W. Strong-Treister purchased 700 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $76.50 per share, for a total transaction of $53,550.00. Following the transaction, the director now owns 809 shares in the company, valued at approximately $61,888.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY increased its position in City by 4.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,284 shares of the bank’s stock valued at $403,000 after acquiring an additional 202 shares during the period. PNC Financial Services Group Inc. increased its position in shares of City by 30.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 930 shares of the bank’s stock worth $77,000 after buying an additional 217 shares during the period. California State Teachers Retirement System increased its position in shares of City by 1.2% during the third quarter. California State Teachers Retirement System now owns 25,064 shares of the bank’s stock worth $1,911,000 after buying an additional 299 shares during the period. Atticus Wealth Management LLC acquired a new stake in shares of City during the fourth quarter worth $27,000. Finally, AQR Capital Management LLC increased its position in shares of City by 12.4% during the fourth quarter. AQR Capital Management LLC now owns 4,316 shares of the bank’s stock worth $354,000 after buying an additional 475 shares during the period. Hedge funds and other institutional investors own 67.99% of the company’s stock.

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 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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