Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Chemical Financial from a hold rating to a buy rating and set a $59.00 price target for the company in a report on Tuesday, October 10th. BidaskClub downgraded shares of Chemical Financial from a strong-buy rating to a buy rating in a research report on Tuesday, December 12th. Piper Jaffray Companies restated a buy rating and set a $55.00 price objective on shares of Chemical Financial in a research report on Friday, October 27th. ValuEngine upgraded shares of Chemical Financial from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods downgraded shares of Chemical Financial from an outperform rating to a market perform rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $54.57.
Chemical Financial (CHFC) traded down $0.55 during trading on Tuesday, reaching $52.99. The company had a trading volume of 354,675 shares, compared to its average volume of 383,950. Chemical Financial has a fifty-two week low of $43.61 and a fifty-two week high of $58.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market capitalization of $3,805.40, a PE ratio of 20.23, a P/E/G ratio of 1.63 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.28 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.12 annualized dividend and a yield of 2.11%. Chemical Financial’s dividend payout ratio (DPR) is presently 42.75%.
In other Chemical Financial news, Director Larry D. Stauffer sold 1,900 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $53.19, for a total transaction of $101,061.00. Following the completion of the sale, the director now directly owns 15,853 shares in the company, valued at $843,221.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $54.50, for a total transaction of $152,600.00. Following the sale, the insider now owns 49,574 shares of the company’s stock, valued at $2,701,783. The disclosure for this sale can be found here. Insiders have sold 13,619 shares of company stock valued at $755,964 over the last 90 days. Company insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Chemical Financial by 19.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock valued at $116,000 after buying an additional 389 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of Chemical Financial in the third quarter valued at approximately $121,000. PNC Financial Services Group Inc. raised its position in shares of Chemical Financial by 220.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock valued at $177,000 after buying an additional 2,525 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Chemical Financial by 59.5% in the second quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock valued at $185,000 after buying an additional 1,427 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Chemical Financial in the second quarter valued at approximately $205,000. Institutional investors own 78.42% of the company’s stock.
About Chemical Financial
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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