City Holding price target lowered to $125 from $135 at Piper Sandler

Piper Sandler analyst Andrew Liesch lowered the firm’s price target on City Holding (CHCO) to $125 from $135 and keeps a Neutral rating on the shares. The firm notes City reported Q4 EPS of $1.94, but excluding securities losses, Piper puts the core number at $2.11. This topped its estimate by 15c and the Street consensus by Following the quarter, the firm trimmed its margin forecast, reduced its provision and charge-off assumptions, and removed near-term share repurchase activity.