First Trust Advisors LP Sells 27,716 Shares of Chemical Financial Co. (NASDAQ:CHFC)

First Trust Advisors LP trimmed its holdings in Chemical Financial Co. (NASDAQ:CHFC) by 20.3% during the 1st quarter, Holdings Channel reports. The firm owned 108,661 shares of the bank’s stock after selling 27,716 shares during the period. First Trust Advisors LP’s holdings in Chemical Financial were worth $4,472,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. New York State Common Retirement Fund boosted its stake in shares of Chemical Financial by 5.9% during the 1st quarter. New York State Common Retirement Fund now owns 83,149 shares of the bank’s stock worth $3,422,000 after acquiring an additional 4,661 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Chemical Financial during the 4th quarter worth about $628,000. Rhumbline Advisers boosted its stake in shares of Chemical Financial by 1.7% during the 1st quarter. Rhumbline Advisers now owns 223,358 shares of the bank’s stock worth $9,193,000 after acquiring an additional 3,826 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Chemical Financial by 5.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 18,120 shares of the bank’s stock worth $663,000 after acquiring an additional 903 shares in the last quarter. Finally, Chemical Bank boosted its stake in shares of Chemical Financial by 0.4% during the 4th quarter. Chemical Bank now owns 1,297,769 shares of the bank’s stock worth $47,511,000 after acquiring an additional 5,721 shares in the last quarter. 86.70% of the stock is currently owned by institutional investors.

CHFC opened at $38.72 on Thursday. Chemical Financial Co. has a twelve month low of $34.62 and a twelve month high of $59.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $2.79 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.04 and a beta of 1.48.

Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.03. Chemical Financial had a net margin of 29.14% and a return on equity of 10.14%. The firm had revenue of $187.68 million during the quarter, compared to the consensus estimate of $202.40 million. During the same quarter in the prior year, the firm earned $0.97 EPS. On average, sell-side analysts expect that Chemical Financial Co. will post 4.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.36 annualized dividend and a dividend yield of 3.51%. Chemical Financial’s dividend payout ratio (DPR) is presently 34.52%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Chemical Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. BidaskClub lowered shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 26th. ValuEngine raised shares of Chemical Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. Finally, FIG Partners raised shares of Chemical Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Chemical Financial currently has a consensus rating of “Hold” and a consensus price target of $52.71.

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Chemical Financial Company Profile

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers a range of banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.

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

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