ValuEngine downgraded shares of Chemical Financial Corporation (NASDAQ:CHFC) from a buy rating to a hold rating in a research report report published on Thursday morning.
A number of other equities analysts have also commented on CHFC. Keefe, Bruyette & Woods reiterated a buy rating and set a $54.00 price target on shares of Chemical Financial Corporation in a report on Thursday, August 10th. BidaskClub lowered shares of Chemical Financial Corporation from a sell rating to a strong sell rating in a report on Thursday, August 3rd. Stephens reiterated a buy rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Boenning Scattergood lowered shares of Chemical Financial Corporation from a neutral rating to an under perform rating and set a $41.50 price target on the stock. in a report on Tuesday, September 19th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $55.00 price target on shares of Chemical Financial Corporation in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $54.07.
Chemical Financial Corporation (CHFC) traded up $0.31 during midday trading on Thursday, hitting $51.72. 337,000 shares of the company’s stock were exchanged, compared to its average volume of 241,259. The company has a market capitalization of $3,680.86, a PE ratio of 17.53, a PEG ratio of 1.90 and a beta of 1.14. Chemical Financial Corporation has a 12-month low of $43.61 and a 12-month high of $55.55. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.
Chemical Financial Corporation (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $175.75 million for the quarter, compared to analyst estimates of $182.78 million. Chemical Financial Corporation had a net margin of 24.23% and a return on equity of 8.05%. Chemical Financial Corporation’s revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. analysts expect that Chemical Financial Corporation will post 3.03 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.12 annualized dividend and a yield of 2.17%. Chemical Financial Corporation’s payout ratio is 42.75%.
In related news, Director Larry D. Stauffer sold 2,110 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total value of $100,161.70. Following the transaction, the director now owns 13,246 shares in the company, valued at $628,787.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lori A. Gwizdala sold 2,800 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $54.50, for a total transaction of $152,600.00. Following the completion of the transaction, the insider now owns 49,574 shares in the company, valued at approximately $2,701,783. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,810 shares of company stock worth $353,823. 2.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CHFC. Vaughan Nelson Investment Management L.P. lifted its holdings in Chemical Financial Corporation by 143.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,279,260 shares of the bank’s stock valued at $119,114,000 after buying an additional 1,341,400 shares during the period. Koch Industries Inc. acquired a new position in Chemical Financial Corporation in the second quarter valued at $515,000. Cambiar Investors LLC acquired a new position in Chemical Financial Corporation in the second quarter valued at $15,377,000. Schroder Investment Management Group lifted its holdings in Chemical Financial Corporation by 24.1% in the second quarter. Schroder Investment Management Group now owns 1,575,071 shares of the bank’s stock valued at $76,407,000 after buying an additional 305,958 shares during the period. Finally, BlackRock Inc. lifted its holdings in Chemical Financial Corporation by 2.9% in the second quarter. BlackRock Inc. now owns 7,327,868 shares of the bank’s stock valued at $354,743,000 after buying an additional 206,663 shares during the period. Institutional investors and hedge funds own 78.43% of the company’s stock.
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.
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