BlackRock Inc. Increases Holdings in Chemical Financial Co. (CHFC)
BlackRock Inc. raised its stake in Chemical Financial Co. (NASDAQ:CHFC) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,487,927 shares of the bank’s stock after buying an additional 4,252 shares during the quarter. BlackRock Inc. owned about 0.11% of Chemical Financial worth $400,381,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Zions Bancorporation bought a new stake in shares of Chemical Financial in the third quarter worth $121,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chemical Financial by 57.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock worth $202,000 after purchasing an additional 1,380 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Chemical Financial in the second quarter worth $205,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Chemical Financial by 99.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock worth $218,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Chemical Financial by 113.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock worth $240,000 after purchasing an additional 2,448 shares in the last quarter. 79.20% of the stock is currently owned by hedge funds and other institutional investors.
In other Chemical Financial news, Director Richard M. Lievense sold 6,298 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $57.92, for a total value of $364,780.16. Following the transaction, the director now directly owns 28,669 shares in the company, valued at $1,660,508.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dennis L. Klaeser sold 53,536 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $58.48, for a total transaction of $3,130,785.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,236 shares of company stock worth $3,933,758. 2.20% of the stock is owned by corporate insiders.
Chemical Financial Co. (CHFC) opened at $56.00 on Monday. The firm has a market cap of $3,992.96, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.59 and a beta of 1.22. Chemical Financial Co. has a fifty-two week low of $43.61 and a fifty-two week high of $59.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.
Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The business had revenue of $178.22 million for the quarter, compared to the consensus estimate of $183.89 million. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. analysts anticipate that Chemical Financial Co. will post 3.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $1.12 dividend on an annualized basis and a yield of 2.00%. Chemical Financial’s payout ratio is 53.59%.
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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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