Chemung Financial (CHMG) Scheduled to Post Earnings on Thursday

Chemung Financial (NASDAQ:CHMG) is set to release its earnings data on Thursday, April 18th.

Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.36). Chemung Financial had a return on equity of 12.85% and a net margin of 18.17%. The company had revenue of $23.77 million during the quarter, compared to analyst estimates of $23.52 million. On average, analysts expect Chemung Financial to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Chemung Financial Stock Up 0.7 %

CHMG stock traded up $0.27 during mid-day trading on Wednesday, hitting $39.81. The stock had a trading volume of 733 shares, compared to its average volume of 6,601. The stock has a market capitalization of $189.10 million, a price-to-earnings ratio of 7.54 and a beta of 0.20. The company has a fifty day moving average of $42.12 and a 200 day moving average of $44.35. Chemung Financial has a 1-year low of $33.72 and a 1-year high of $51.36. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Chemung Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.11%. Chemung Financial’s dividend payout ratio (DPR) is presently 23.48%.

Hedge Funds Weigh In On Chemung Financial

Large investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC acquired a new position in shares of Chemung Financial during the fourth quarter valued at about $210,000. Royal Bank of Canada raised its stake in shares of Chemung Financial by 10.4% in the fourth quarter. Royal Bank of Canada now owns 3,589 shares of the bank’s stock valued at $179,000 after purchasing an additional 338 shares in the last quarter. Citigroup Inc. bought a new position in Chemung Financial in the fourth quarter worth $169,000. Wells Fargo & Company MN increased its holdings in Chemung Financial by 102.8% in the 2nd quarter. Wells Fargo & Company MN now owns 2,085 shares of the bank’s stock valued at $80,000 after buying an additional 1,057 shares during the period. Finally, MetLife Investment Management LLC acquired a new position in shares of Chemung Financial in the 2nd quarter valued at $73,000. 47.50% of the stock is currently owned by institutional investors and hedge funds.

Chemung Financial Company Profile

Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.