Q3 2017 Earnings Forecast for Chemical Financial Corporation (CHFC) Issued By DA Davidson

Chemical Financial Corporation (NASDAQ:CHFC) – Stock analysts at DA Davidson dropped their Q3 2017 earnings estimates for shares of Chemical Financial Corporation in a research note issued on Friday. DA Davidson analyst K. Reevey now expects that the bank will post earnings of $0.77 per share for the quarter, down from their prior forecast of $0.78. DA Davidson has a “Buy” rating and a $58.00 price objective on the stock. DA Davidson also issued estimates for Chemical Financial Corporation’s Q4 2017 earnings at $0.83 EPS, FY2017 earnings at $3.07 EPS and FY2018 earnings at $3.59 EPS.

Other equities analysts have also issued research reports about the company. BidaskClub raised Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Boenning Scattergood lowered Chemical Financial Corporation from a “neutral” rating to an “under perform” rating and set a $41.50 price objective on the stock. in a research note on Tuesday. ValuEngine downgraded Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods restated a “buy” rating and set a $54.00 target price on shares of Chemical Financial Corporation in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies began coverage on Chemical Financial Corporation in a research report on Thursday, July 6th. They set an “overweight” rating and a $56.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.07.

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Shares of Chemical Financial Corporation (NASDAQ CHFC) opened at 49.07 on Monday. The company has a market capitalization of $3.49 billion, a PE ratio of 20.57 and a beta of 1.14. The firm has a 50-day moving average price of $46.43 and a 200-day moving average price of $48.18. Chemical Financial Corporation has a 1-year low of $40.93 and a 1-year high of $55.55.

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 analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $178.21 million. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.28 dividend. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Wednesday, August 30th. Chemical Financial Corporation’s dividend payout ratio is 49.34%.

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

Several hedge funds have recently bought and sold shares of CHFC. Bank of New York Mellon Corp boosted its position in Chemical Financial Corporation by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 870,782 shares of the bank’s stock valued at $42,153,000 after purchasing an additional 13,044 shares during the last quarter. Strs Ohio boosted its position in Chemical Financial Corporation by 6.0% during the second quarter. Strs Ohio now owns 8,900 shares of the bank’s stock valued at $430,000 after purchasing an additional 500 shares during the last quarter. State Street Corp boosted its position in Chemical Financial Corporation by 26.8% during the first quarter. State Street Corp now owns 3,301,324 shares of the bank’s stock valued at $168,860,000 after purchasing an additional 696,794 shares during the last quarter. Chatham Capital Group Inc. boosted its position in Chemical Financial Corporation by 8.2% during the second quarter. Chatham Capital Group Inc. now owns 30,815 shares of the bank’s stock valued at $1,492,000 after purchasing an additional 2,335 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Chemical Financial Corporation by 18,200.8% during the first quarter. BlackRock Inc. now owns 7,121,205 shares of the bank’s stock valued at $364,250,000 after purchasing an additional 7,082,293 shares during the last quarter. 76.46% of the stock is owned by institutional investors.

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.

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

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