Chemical Financial Corporation (CHFC) Shares Bought by National Planning Corp
National Planning Corp raised its position in shares of Chemical Financial Corporation (NASDAQ:CHFC) by 46.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,736 shares of the bank’s stock after buying an additional 2,764 shares during the period. National Planning Corp’s holdings in Chemical Financial Corporation were worth $434,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Great West Life Assurance Co. Can increased its position in shares of Chemical Financial Corporation by 4.3% in the first quarter. Great West Life Assurance Co. Can now owns 44,435 shares of the bank’s stock worth $2,271,000 after buying an additional 1,843 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Chemical Financial Corporation by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,500 shares of the bank’s stock worth $1,253,000 after buying an additional 300 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Chemical Financial Corporation by 9.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,176 shares of the bank’s stock worth $111,000 after buying an additional 192 shares in the last quarter. Mesirow Financial Investment Management Equity Management increased its position in shares of Chemical Financial Corporation by 4.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 472,170 shares of the bank’s stock worth $24,152,000 after buying an additional 18,835 shares in the last quarter. Finally, Sigma Planning Corp increased its position in shares of Chemical Financial Corporation by 9.9% in the first quarter. Sigma Planning Corp now owns 12,419 shares of the bank’s stock worth $635,000 after buying an additional 1,123 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.
Chemical Financial Corporation (CHFC) opened at 45.81 on Friday. The stock has a market cap of $3.26 billion, a P/E ratio of 19.20 and a beta of 1.12. The firm has a 50-day moving average price of $48.12 and a 200-day moving average price of $49.21. Chemical Financial Corporation has a 52 week low of $40.93 and a 52 week high of $55.55.
Chemical Financial Corporation (NASDAQ:CHFC) last released its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The firm had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $178.21 million. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. On average, equities research analysts predict that Chemical Financial Corporation will post $2.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. Chemical Financial Corporation’s dividend payout ratio is 47.58%.
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A number of research analysts have commented on the company. Stephens restated a “buy” rating on shares of Chemical Financial Corporation in a research note on Wednesday, July 26th. Boenning Scattergood restated a “hold” rating on shares of Chemical Financial Corporation in a research note on Wednesday, July 26th. BidaskClub upgraded Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies assumed coverage on Chemical Financial Corporation in a research note on Thursday, July 6th. They issued an “overweight” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.17.
In other Chemical Financial Corporation news, Director Richard M. Lievense sold 14,659 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $48.20, for a total transaction of $706,563.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by corporate insiders.
Chemical Financial Corporation 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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