Chemical Financial Co. (CHFC) Shares Sold by Northern Trust Corp
Northern Trust Corp lowered its stake in Chemical Financial Co. (NASDAQ:CHFC) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,758,661 shares of the bank’s stock after selling 13,685 shares during the period. Northern Trust Corp owned 2.46% of Chemical Financial worth $64,384,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in shares of Chemical Financial by 3,599.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,042,104 shares of the bank’s stock valued at $28,000 after buying an additional 1,013,937 shares in the last quarter. Doyle Wealth Management acquired a new position in shares of Chemical Financial during the fourth quarter worth approximately $32,000. Toronto Dominion Bank acquired a new position in shares of Chemical Financial in the fourth quarter valued at $37,000. Huntington National Bank raised its stake in shares of Chemical Financial by 23.9% in the fourth quarter. Huntington National Bank now owns 2,490 shares of the bank’s stock valued at $91,000 after purchasing an additional 480 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new position in shares of Chemical Financial in the fourth quarter valued at $116,000. 83.17% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on CHFC shares. Zacks Investment Research upgraded Chemical Financial from a “sell” rating to a “hold” rating in a report on Friday, November 30th. BidaskClub lowered Chemical Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 13th. Keefe, Bruyette & Woods raised Chemical Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $59.00 in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Finally, Stephens reaffirmed a “buy” rating and set a $52.00 price target on shares of Chemical Financial in a research report on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.60.
Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings results on Monday, January 28th. The bank reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. Chemical Financial had a return on equity of 10.20% and a net margin of 30.57%. The firm had revenue of $195.50 million for the quarter, compared to analyst estimates of $200.12 million. During the same quarter in the previous year, the company posted $0.87 EPS. Equities research analysts expect that Chemical Financial Co. will post 4.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, February 28th. Chemical Financial’s dividend payout ratio (DPR) is currently 34.52%.
ILLEGAL ACTIVITY WARNING: This article was originally published by Watch List News and is the property of of Watch List News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.watchlistnews.com/chemical-financial-co-chfc-shares-sold-by-northern-trust-corp/2897553.html.
Chemical Financial Profile
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers 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.
Featured Article: Outstanding Shares and The Effect on Share Price
Receive News & Ratings for Chemical Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemical Financial and related companies with MarketBeat.com's FREE daily email newsletter.