Chemical Financial Co. (NASDAQ:CHFC) saw an uptick in trading volume on Friday . 1,032,437 shares changed hands during trading, an increase of 215% from the previous session’s volume of 327,345 shares.The stock last traded at $58.26 and had previously closed at $57.80.
A number of brokerages recently weighed in on CHFC. ValuEngine raised shares of Chemical Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Hilliard Lyons raised shares of Chemical Financial from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Boenning Scattergood set a $43.00 price target on shares of Chemical Financial and gave the company a “sell” rating in a research note on Tuesday, January 2nd. BidaskClub raised shares of Chemical Financial from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 6th. Finally, Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $58.57.
The stock has a market capitalization of $4,094.21, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.
Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. The firm had revenue of $178.22 million for the quarter, compared to analyst estimates of $183.89 million. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. analysts forecast that Chemical Financial Co. will post 3.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $1.12 dividend on an annualized basis and a yield of 1.92%. Chemical Financial’s payout ratio is 53.59%.
In other Chemical Financial news, insider Lori A. Gwizdala sold 5,594 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $59.27, for a total value of $331,556.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dennis L. Klaeser sold 53,536 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $58.48, for a total transaction of $3,130,785.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,236 shares of company stock valued at $3,933,758. 2.20% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CHFC. Zions Bancorporation acquired a new stake in Chemical Financial in the 3rd quarter valued at about $121,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Chemical Financial by 57.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock valued at $202,000 after acquiring an additional 1,380 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Chemical Financial by 99.2% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock valued at $218,000 after acquiring an additional 2,074 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in Chemical Financial in the 4th quarter valued at about $236,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Chemical Financial by 113.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock worth $240,000 after buying an additional 2,448 shares during the last quarter. Institutional investors own 80.08% of the company’s stock.
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Chemical Financial 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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