City Holding (CHCO) PT Raised to $135 at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Catherine Mealor raised the price target on City Holding (NASDAQ: CHCO) to $135.00 (from $125.00) while maintaining a Market Perform rating.

The analyst commented: 'Better NIM and Provision Drive EPS Higher Again; Another strong quarter with the beat primarily driven by NII (+$0.13) and provision (+$0.21). NIM expanded 11 bps to 3.95% from 3.84% LQ and growth improved to 5%. Credit improved, with a decline in NPLs and ACL reversal driven by an upgraded credit. We are raising 2025/2026E EPS 8%/5% to $8.70/$8.25 and our PT to $135 (from $125). Shares trade at a premium 15.6x '26E EPS and 3.08x TBVPS, but deserved given CHCO's consistent earnings performance and high levels of profitability (2% ROA/22% ROTCE) and TBV growth (15% annually)."

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