Chemical Financial (CHFC) Downgraded by BidaskClub
BidaskClub downgraded shares of Chemical Financial (NASDAQ:CHFC) from a hold rating to a sell rating in a research note issued to investors on Thursday.
A number of other equities analysts also recently commented on CHFC. Zacks Investment Research downgraded shares of Chemical Financial from a buy rating to a hold rating in a report on Tuesday, November 21st. Boenning Scattergood set a $43.00 price target on Chemical Financial and gave the stock a sell rating in a research note on Tuesday, January 2nd. ValuEngine upgraded Chemical Financial from a hold rating to a buy rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods lowered Chemical Financial from an outperform rating to a market perform rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies restated a buy rating and set a $55.00 price target on shares of Chemical Financial in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Chemical Financial presently has a consensus rating of Hold and a consensus price target of $54.57.
Shares of Chemical Financial (CHFC) traded up $0.04 during trading on Thursday, reaching $53.23. 396,200 shares of the company’s stock were exchanged, compared to its average volume of 350,000. The company has a market capitalization of $3,788.32, a P/E ratio of 20.32, a PEG ratio of 1.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. Chemical Financial has a fifty-two week low of $43.61 and a fifty-two week high of $58.17.
Chemical Financial (NASDAQ:CHFC) last announced its earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.02. The business had revenue of $175.75 million during the quarter, compared to the consensus estimate of $182.78 million. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. The firm’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. equities research analysts predict that Chemical Financial will post 2.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.10%. Chemical Financial’s payout ratio is 42.75%.
In related news, insider Lori A. Gwizdala sold 2,800 shares of the company’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 value of $152,600.00. Following the sale, the insider now owns 49,574 shares in the company, valued at $2,701,783. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregory R. Bixby sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total value of $199,675.00. The disclosure for this sale can be found here. Insiders have sold 13,619 shares of company stock worth $755,964 in the last 90 days. Insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its position in Chemical Financial by 3.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,622 shares of the bank’s stock valued at $272,000 after buying an additional 205 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Chemical Financial by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock valued at $1,911,000 after buying an additional 299 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Chemical Financial by 1.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,153 shares of the bank’s stock valued at $1,072,000 after buying an additional 339 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Chemical Financial by 3.3% in the second quarter. Ameritas Investment Partners Inc. now owns 27,508 shares of the bank’s stock valued at $1,332,000 after acquiring an additional 867 shares during the period. Hedge funds and other institutional investors own 78.42% of the company’s stock.
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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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