Chemung Financial Corp. (NASDAQ:CHMG) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Zacks has also given Chemung Financial an industry rank of 119 out of 255 based on the ratings given to its competitors.

Shares of NASDAQ CHMG traded down $0.71 during mid-day trading on Tuesday, hitting $44.29. The stock had a trading volume of 4,366 shares, compared to its average volume of 11,626. The company has a market cap of $216.18 million, a price-to-earnings ratio of 19.15 and a beta of 0.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.92 and a quick ratio of 0.92. Chemung Financial has a twelve month low of $38.99 and a twelve month high of $56.83.

Chemung Financial (NASDAQ:CHMG) last released its quarterly earnings data on Wednesday, July 18th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.18). The firm had revenue of $20.34 million for the quarter. Chemung Financial had a return on equity of 7.48% and a net margin of 10.07%.

A number of institutional investors and hedge funds have recently made changes to their positions in CHMG. BlackRock Inc. lifted its position in Chemung Financial by 10.9% in the second quarter. BlackRock Inc. now owns 162,691 shares of the bank’s stock valued at $8,152,000 after acquiring an additional 15,974 shares during the last quarter. Private Advisor Group LLC acquired a new position in Chemung Financial in the second quarter valued at $322,000. Hartford Investment Management Co. acquired a new position in Chemung Financial in the second quarter valued at $219,000. Deutsche Bank AG increased its stake in Chemung Financial by 49.5% in the fourth quarter. Deutsche Bank AG now owns 12,389 shares of the bank’s stock valued at $594,000 after purchasing an additional 4,102 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Chemung Financial by 17.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,840 shares of the bank’s stock valued at $1,015,000 after purchasing an additional 3,321 shares during the period. 33.21% of the stock is owned by hedge funds and other institutional investors.

About Chemung Financial

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

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