Could City Holding Company Recover After Forming a Double Top?

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The chart of City Holding Company (CHCO) shows a double top with $75.88 target or 67.00% above today’s $45.44 share price. The 6 months chart pattern indicates low risk for the $709.07M company. It was reported on Dec, 12 by If the $75.88 price target is reached, the company will be worth $475.08 million more. Double tops are rare but powerful chart patterns. The stock decreased 1.75% or $0.81 during the last trading session, hitting $45.44. About 48,456 shares traded hands or 11.84% up from the average. City Holding Company (NASDAQ:CHCO) has risen 0.83% since May 8, 2015 and is uptrending. It has outperformed by 3.85% the S&P500.

Out of 1 analysts covering City Holding Company (NASDAQ:CHCO), 0 rate it “Buy”, 0 “Sell”, while 3 “Hold”. This means 0% are positive. $48 is the highest target while $48 is the lowest. The $48 average target is 7.83% above today’s ($45.44) stock price. City Holding Company was the topic in 3 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Zacks upgraded the stock on August 12 to “Sell” rating.

According to Zacks Investment Research, “City Holding Company is a multi-bank holding company that provides diversified financial products and services to consumers and local businesses.” Get a free copy of the Zacks research report on City Holding Company (CHCO).

The institutional sentiment decreased to 1.29 in 2015 Q3. Its down 0.11, from 1.4 in 2015Q2. The ratio worsened, as 8 funds sold all City Holding Company shares owned while 40 reduced positions. 13 funds bought stakes while 49 increased positions. They now own 18.43 million shares or 86.97% more from 9.86 million shares in 2015Q2.

City Holding Co holds 10.65% of its portfolio in City Holding Company for 395,556 shares. Walthausen & Co. Llc owns 281,145 shares or 1.21% of their US portfolio. Moreover, Zebra Capital Management Llc has 0.49% invested in the company for 16,067 shares. The West Virginia-based Ntv Asset Management Llc has invested 0.27% in the stock. Royce & Associates Llc, a New York-based fund reported 818,011 shares.

Since July 29, 2015, the stock had 0 insider buys, and 10 selling transactions for $2.03 million net activity. Bumgarner David L sold 2,750 shares worth $132,825. Rowe Sharon Horton sold 500 shares worth $23,755. Hageboeck Charles R sold 1,917 shares worth $92,764. Stilwell Craig G sold 10,000 shares worth $478,780. The insider Legge Jeffrey Dale sold 1,250 shares worth $60,675.

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