Chemical Financial (CHFC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Chemical Financial (NASDAQ:CHFC) issued its quarterly earnings data on Tuesday. The bank reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.03, Bloomberg Earnings reports. Chemical Financial had a return on equity of 10.20% and a net margin of 30.57%. During the same period in the prior year, the business posted $0.97 earnings per share.
Shares of NASDAQ CHFC traded up $0.93 during midday trading on Tuesday, hitting $43.62. The stock had a trading volume of 628,600 shares, compared to its average volume of 691,087. The stock has a market capitalization of $3.16 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.42. Chemical Financial has a fifty-two week low of $34.62 and a fifty-two week high of $59.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.
Several equities analysts have issued reports on CHFC shares. Zacks Investment Research upgraded Chemical Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th. BidaskClub upgraded Chemical Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 5th. Keefe, Bruyette & Woods upgraded Chemical Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $59.00 in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Raymond James set a $55.00 price objective on Chemical Financial and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, Sandler O’Neill upgraded Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, February 8th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Chemical Financial currently has a consensus rating of “Hold” and an average price target of $52.67.
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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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