Wells Fargo & Company MN Trims Holdings in Chemical Financial Corporation (CHFC)

Wells Fargo & Company MN trimmed its position in shares of Chemical Financial Corporation (NASDAQ:CHFC) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,981 shares of the bank’s stock after selling 1,992 shares during the period. Wells Fargo & Company MN owned 0.20% of Chemical Financial Corporation worth $6,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CHFC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Chemical Financial Corporation by 19.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock valued at $116,000 after purchasing an additional 389 shares during the period. Huntington National Bank bought a new position in Chemical Financial Corporation during the second quarter valued at $152,000. World Asset Management Inc grew its holdings in Chemical Financial Corporation by 2.9% during the second quarter. World Asset Management Inc now owns 4,468 shares of the bank’s stock valued at $216,000 after purchasing an additional 128 shares during the period. KCG Holdings Inc. bought a new position in Chemical Financial Corporation during the first quarter valued at $235,000. Finally, Capstone Asset Management Co. grew its holdings in Chemical Financial Corporation by 2.7% during the second quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock valued at $257,000 after purchasing an additional 140 shares during the period. 76.46% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on CHFC. Boenning Scattergood reissued a “hold” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Stephens reaffirmed a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. BidaskClub raised Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, Piper Jaffray Companies started coverage on Chemical Financial Corporation in a report on Thursday, July 6th. They issued an “overweight” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Chemical Financial Corporation presently has a consensus rating of “Hold” and an average target price of $53.42.

Chemical Financial Corporation (CHFC) opened at 52.63 on Monday. The stock has a 50 day moving average price of $48.11 and a 200-day moving average price of $48.09. Chemical Financial Corporation has a 12-month low of $40.93 and a 12-month high of $55.55. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 22.06 and a beta of 1.15.

Chemical Financial Corporation (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. The firm had revenue of $179.52 million during the quarter, compared to the consensus estimate of $178.21 million. Equities analysts predict that Chemical Financial Corporation will post $2.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.28 per share. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.13%. Chemical Financial Corporation’s payout ratio is presently 49.34%.

In other news, Director Larry D. Stauffer sold 2,110 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now owns 13,246 shares of the company’s stock, valued at approximately $628,787.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $48.20, for a total transaction of $706,563.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/09/wells-fargo-company-mn-trims-holdings-in-chemical-financial-corporation-chfc.html.

Chemical Financial Corporation 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, off

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CHFC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Chemical Financial Corporation by 19.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock valued at $116,000 after purchasing an additional 389 shares during the period. Huntington National Bank bought a new position in Chemical Financial Corporation during the second quarter valued at $152,000. World Asset Management Inc grew its holdings in Chemical Financial Corporation by 2.9% during the second quarter. World Asset Management Inc now owns 4,468 shares of the bank’s stock valued at $216,000 after purchasing an additional 128 shares during the period. KCG Holdings Inc. bought a new position in Chemical Financial Corporation during the first quarter valued at $235,000. Finally, Capstone Asset Management Co. grew its holdings in Chemical Financial Corporation by 2.7% during the second quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock valued at $257,000 after purchasing an additional 140 shares during the period. 76.46% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on CHFC. Boenning Scattergood reissued a “hold” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Stephens reaffirmed a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. BidaskClub raised Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, Piper Jaffray Companies started coverage on Chemical Financial Corporation in a report on Thursday, July 6th. They issued an “overweight” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Chemical Financial Corporation presently has a consensus rating of “Hold” and an average target price of $53.42.

Chemical Financial Corporation (CHFC) opened at 52.63 on Monday. The stock has a 50 day moving average price of $48.11 and a 200-day moving average price of $48.09. Chemical Financial Corporation has a 12-month low of $40.93 and a 12-month high of $55.55. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 22.06 and a beta of 1.15.

Chemical Financial Corporation (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. The firm had revenue of $179.52 million during the quarter, compared to the consensus estimate of $178.21 million. Equities analysts predict that Chemical Financial Corporation will post $2.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.28 per share. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.13%. Chemical Financial Corporation’s payout ratio is presently 49.34%.

In other news, Director Larry D. Stauffer sold 2,110 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now owns 13,246 shares of the company’s stock, valued at approximately $628,787.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $48.20, for a total transaction of $706,563.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/09/wells-fargo-company-mn-trims-holdings-in-chemical-financial-corporation-chfc.html.

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

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