City Holding price target raised to $105 from $103 at Piper Sandler

Piper Sandler analyst Casey Orr Whitman raised the firm’s price target on City Holding to $105 from $103 and keeps a Neutral rating on the shares. The firm cites a strong Q4 and year for City Holding, with pristine credit metrics, TBV growth of 16% in Q4 and a resilient net interest margin at 3.98% in Q4. City Holding’s shares continue to trade at a large premium to peers supported by better profitability metrics, pristine credit quality, and healthy capital levels, Piper adds.