Sei Investments Co. increased its stake in shares of Chemical Financial Co. (NASDAQ:CHFC) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,589 shares of the bank’s stock after purchasing an additional 15,231 shares during the quarter. Sei Investments Co.’s holdings in Chemical Financial were worth $13,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Chemical Financial by 1.4% during the 1st quarter. BlackRock Inc. now owns 7,589,243 shares of the bank’s stock worth $414,980,000 after purchasing an additional 101,316 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Chemical Financial by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,064,893 shares of the bank’s stock worth $167,588,000 after purchasing an additional 28,154 shares in the last quarter. Franklin Resources Inc. increased its position in Chemical Financial by 9.6% during the 1st quarter. Franklin Resources Inc. now owns 2,945,057 shares of the bank’s stock worth $161,035,000 after purchasing an additional 258,881 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Chemical Financial by 0.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,269,764 shares of the bank’s stock worth $126,358,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Chemical Financial by 4.9% during the 1st quarter. Royal Bank of Canada now owns 1,943,022 shares of the bank’s stock worth $106,244,000 after purchasing an additional 90,970 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

CHFC opened at $57.94 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.61 and a beta of 1.12. Chemical Financial Co. has a 12 month low of $43.61 and a 12 month high of $59.83.

Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $195.56 million during the quarter, compared to analysts’ expectations of $195.58 million. Chemical Financial had a return on equity of 9.59% and a net margin of 22.38%. sell-side analysts forecast that Chemical Financial Co. will post 3.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a $0.34 dividend. This is a boost from Chemical Financial’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 6th. This represents a $1.36 annualized dividend and a yield of 2.35%. Chemical Financial’s payout ratio is 36.60%.

A number of analysts recently commented on CHFC shares. Zacks Investment Research cut Chemical Financial from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Sandler O’Neill cut Chemical Financial from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Boenning Scattergood reiterated a “sell” rating on shares of Chemical Financial in a research report on Thursday, April 26th. Finally, BidaskClub cut Chemical Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Chemical Financial has an average rating of “Hold” and an average target price of $60.00.

In other Chemical Financial news, insider Robert Rathbun sold 5,000 shares of Chemical Financial stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $58.86, for a total value of $294,300.00. Following the completion of the sale, the insider now owns 16,449 shares in the company, valued at approximately $968,188.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

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.

See Also: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Chemical Financial (NASDAQ:CHFC)

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