Chemical Financial (CHFC) Upgraded to “Hold” at BidaskClub
Chemical Financial (NASDAQ:CHFC) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
CHFC has been the subject of a number of other reports. Piper Jaffray Companies reiterated a “buy” rating and set a $62.00 price target on shares of Chemical Financial in a report on Tuesday, January 9th. 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. ValuEngine upgraded Chemical Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods lowered Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. Finally, Boenning Scattergood set a $43.00 price target on Chemical Financial and gave the stock a “sell” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $55.57.
Chemical Financial (CHFC) traded up $0.38 on Thursday, reaching $56.28. The company had a trading volume of 286,400 shares, compared to its average volume of 343,367. Chemical Financial has a 12-month low of $43.61 and a 12-month high of $58.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $4,005.39, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.66 and a beta of 1.15.
In other news, Director Ronald A. Klein sold 2,619 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $56.75, for a total transaction of $148,628.25. Following the sale, the director now directly owns 9,139 shares in the company, valued at $518,638.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory R. Bixby sold 3,500 shares of the business’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. Over the last 90 days, insiders have sold 13,619 shares of company stock worth $755,964. 2.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its position in shares of Chemical Financial by 141.7% during the second quarter. Prudential Financial Inc. now owns 114,197 shares of the bank’s stock valued at $5,528,000 after purchasing an additional 66,940 shares during the period. Sei Investments Co. increased its position in shares of Chemical Financial by 10.6% during the third quarter. Sei Investments Co. now owns 22,483 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 2,154 shares during the period. Koch Industries Inc. bought a new stake in shares of Chemical Financial during the second quarter valued at approximately $515,000. Teachers Advisors LLC increased its position in shares of Chemical Financial by 1.4% during the second quarter. Teachers Advisors LLC now owns 425,970 shares of the bank’s stock valued at $20,621,000 after purchasing an additional 6,034 shares during the period. Finally, Sterling Capital Management LLC increased its position in shares of Chemical Financial by 1.0% during the third quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock valued at $25,165,000 after purchasing an additional 4,836 shares during the period. Institutional investors and hedge funds own 78.42% of the company’s stock.
Chemical Financial Company Profile
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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