Chemical Financial Corporation (CHFC) Given Average Rating of “Hold” by Brokerages
Shares of Chemical Financial Corporation (NASDAQ:CHFC) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $56.75.
A number of research firms have commented on CHFC. Piper Jaffray Companies reiterated a “buy” rating and set a $55.00 target price on shares of Chemical Financial Corporation in a research report on Friday, October 27th. Boenning Scattergood reiterated a “sell” rating on shares of Chemical Financial Corporation in a research report on Thursday, October 26th. Keefe, Bruyette & Woods downgraded Chemical Financial Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded Chemical Financial Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, BidaskClub upgraded Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th.
Chemical Financial Corporation (NASDAQ CHFC) opened at $52.93 on Tuesday. The company has a market capitalization of $3,751.84, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.94. Chemical Financial Corporation has a 12-month low of $41.13 and a 12-month high of $55.55.
Chemical Financial Corporation (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Chemical Financial Corporation had a return on equity of 8.05% and a net margin of 24.23%. The firm had revenue of $175.75 million for the quarter, compared to the consensus estimate of $182.78 million. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. equities analysts expect that Chemical Financial Corporation will post 3.03 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 30th. Chemical Financial Corporation’s payout ratio is 42.75%.
In other news, Director Larry D. Stauffer sold 2,110 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $47.47, for a total transaction of $100,161.70. Following the sale, the director now directly owns 13,246 shares in the company, valued at approximately $628,787.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry D. Stauffer sold 1,900 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $53.19, for a total value of $101,061.00. Following the sale, the director now owns 15,853 shares in the company, valued at $843,221.07. The disclosure for this sale can be found here. Insiders sold 6,810 shares of company stock valued at $353,823 in the last ninety days. Company insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Chemical Financial Corporation by 19.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock valued at $116,000 after acquiring an additional 389 shares during the period. Huntington National Bank acquired a new position in shares of Chemical Financial Corporation during the 2nd quarter valued at $152,000. PNC Financial Services Group Inc. increased its position in shares of Chemical Financial Corporation by 220.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock valued at $177,000 after purchasing an additional 2,525 shares during the period. Riverhead Capital Management LLC increased its position in shares of Chemical Financial Corporation by 59.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock valued at $185,000 after purchasing an additional 1,427 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Chemical Financial Corporation during the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
About Chemical Financial Corporation
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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