Chemical Financial Corporation Forecasted to Earn FY2017 Earnings of $3.00 Per Share (CHFC)

Chemical Financial Corporation (NASDAQ:CHFC) – Equities research analysts at FIG Partners dropped their FY2017 EPS estimates for shares of Chemical Financial Corporation in a report issued on Wednesday. FIG Partners analyst J. Rodis now forecasts that the bank will post earnings of $3.00 per share for the year, down from their prior forecast of $3.01. FIG Partners also issued estimates for Chemical Financial Corporation’s Q4 2017 earnings at $0.83 EPS, Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.93 EPS and FY2018 earnings at $3.49 EPS.

Chemical Financial Corporation (NASDAQ:CHFC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share 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 company had revenue of $179.52 million for the quarter, compared to analyst estimates of $178.21 million. ILLEGAL ACTIVITY WARNING: “Chemical Financial Corporation Forecasted to Earn FY2017 Earnings of $3.00 Per Share (CHFC)” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/09/15/chemical-financial-corporation-forecasted-to-earn-fy2017-earnings-of-3-00-per-share-chfc.html.

Several other equities research analysts have also recently commented on CHFC. Keefe, Bruyette & Woods reissued a “buy” rating and set a $54.00 price target on shares of Chemical Financial Corporation in a research report on Thursday, August 10th. BidaskClub cut shares of Chemical Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Stephens reissued a “buy” rating on shares of Chemical Financial Corporation in a research report on Wednesday, July 26th. ValuEngine cut shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Chemical Financial Corporation in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Chemical Financial Corporation currently has a consensus rating of “Hold” and an average price target of $56.17.

Chemical Financial Corporation (NASDAQ CHFC) opened at 48.50 on Friday. The firm’s 50-day moving average price is $46.37 and its 200 day moving average price is $48.37. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 20.33 and a beta of 1.14. Chemical Financial Corporation has a 12-month low of $40.93 and a 12-month high of $55.55.

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Chemical Financial Corporation by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock valued at $1,911,000 after purchasing an additional 299 shares during the period. Koch Industries Inc. bought a new stake in shares of Chemical Financial Corporation in the 2nd quarter valued at about $515,000. Dean Capital Management bought a new stake in shares of Chemical Financial Corporation in the 2nd quarter valued at about $4,432,000. Sterling Capital Management LLC raised its holdings in shares of Chemical Financial Corporation by 2.7% in the 2nd quarter. Sterling Capital Management LLC now owns 476,701 shares of the bank’s stock valued at $23,077,000 after purchasing an additional 12,406 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Chemical Financial Corporation by 3.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,772,479 shares of the bank’s stock valued at $85,668,000 after purchasing an additional 52,318 shares during the period. 76.46% of the stock is currently owned by institutional investors.

In other news, Director Richard M. Lievense sold 14,659 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.20, for a total value of $706,563.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry D. Stauffer sold 2,110 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now directly owns 13,246 shares in the company, valued at $628,787.62. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.31%. Chemical Financial Corporation’s payout ratio is 49.34%.

Chemical Financial Corporation Company Profile

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.

Earnings History and Estimates for Chemical Financial Corporation (NASDAQ:CHFC)

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