Chemical Financial Corporation (CHFC) Shares Bought by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY raised its position in Chemical Financial Corporation (NASDAQ:CHFC) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,871 shares of the bank’s stock after buying an additional 301 shares during the period. Metropolitan Life Insurance Co. NY owned 0.15% of Chemical Financial Corporation worth $5,569,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CHFC. Glen Harbor Capital Management LLC boosted its stake in Chemical Financial Corporation by 9.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,176 shares of the bank’s stock valued at $111,000 after buying an additional 192 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Chemical Financial Corporation by 153.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,722 shares of the bank’s stock valued at $139,000 after buying an additional 1,650 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Chemical Financial Corporation by 4.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,892 shares of the bank’s stock valued at $148,000 after buying an additional 131 shares during the last quarter. Tyers Asset Management LLC boosted its stake in Chemical Financial Corporation by 9.7% in the first quarter. Tyers Asset Management LLC now owns 2,992 shares of the bank’s stock valued at $153,000 after buying an additional 264 shares during the last quarter. Finally, Creative Planning raised its position in shares of Chemical Financial Corporation by 11.2% in the first quarter. Creative Planning now owns 3,043 shares of the bank’s stock valued at $156,000 after buying an additional 307 shares during the period. Institutional investors and hedge funds own 79.07% of the company’s stock.

Shares of Chemical Financial Corporation (CHFC) traded down 1.39% on Friday, reaching $48.10. 303,462 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $48.58 and its 200-day moving average price is $49.49. Chemical Financial Corporation has a 52-week low of $40.93 and a 52-week high of $55.55. The stock has a market cap of $3.42 billion, a P/E ratio of 20.16 and a beta of 1.13.

Chemical Financial Corporation (NASDAQ:CHFC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. The firm had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $178.21 million. Equities analysts forecast that Chemical Financial Corporation will post $3.00 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.33%. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 30th. Chemical Financial Corporation’s dividend payout ratio is presently 47.58%.

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CHFC has been the topic of several recent research reports. Keefe, Bruyette & Woods set a $55.00 target price on shares of Chemical Financial Corporation and gave the company a “buy” rating in a research note on Saturday, April 15th. Hilliard Lyons raised shares of Chemical Financial Corporation to a “buy” rating and raised their target price for the company from $54.00 to $55.00 in a research note on Friday, April 28th. DA Davidson initiated coverage on shares of Chemical Financial Corporation in a research note on Wednesday, July 5th. They issued a “buy” rating and a $58.00 target price on the stock. Stephens reaffirmed a “buy” rating on shares of Chemical Financial Corporation in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.33.

About Chemical Financial Corporation

Chemical Financial Corporation is a financial holding company. The Company operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers banking and fiduciary products and services. These products and services include business and personal checking accounts, savings and individual retirement accounts, time deposit instruments, electronically accessed banking products, residential and commercial real estate financing, commercial lending, consumer financing, access to insurance and investment products, corporate and personal wealth management services, and other banking services.

Institutional Ownership by Quarter for Chemical Financial Corporation (NASDAQ:CHFC)

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