KCG Holdings Inc. acquired a new stake in Chemical Financial Corporation (NASDAQ:CHFC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,602 shares of the bank’s stock, valued at approximately $235,000.
Other large investors have also bought and sold shares of the company. Glen Harbor Capital Management LLC raised its stake in Chemical Financial Corporation by 9.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,176 shares of the bank’s stock valued at $111,000 after buying an additional 192 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Chemical Financial Corporation by 4.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,892 shares of the bank’s stock valued at $148,000 after buying an additional 131 shares during the last quarter. Tyers Asset Management LLC raised its stake in Chemical Financial Corporation by 9.7% in the first quarter. Tyers Asset Management LLC now owns 2,992 shares of the bank’s stock valued at $153,000 after buying an additional 264 shares during the last quarter. Creative Planning increased its position in shares of Chemical Financial Corporation by 11.2% in the first quarter. Creative Planning now owns 3,043 shares of the bank’s stock valued at $156,000 after buying an additional 307 shares in the last quarter. Finally, Flinton Capital Management LLC increased its position in shares of Chemical Financial Corporation by 9.7% in the first quarter. Flinton Capital Management LLC now owns 3,808 shares of the bank’s stock valued at $195,000 after buying an additional 336 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.
Chemical Financial Corporation (CHFC) traded down 1.57% on Friday, hitting $45.81. 562,812 shares of the stock traded hands. The company has a market capitalization of $3.26 billion, a PE ratio of 19.20 and a beta of 1.12. The firm has a 50-day moving average price of $48.12 and a 200-day moving average price of $49.21. Chemical Financial Corporation has a 12 month low of $40.93 and a 12 month high of $55.55.
Chemical Financial Corporation (NASDAQ:CHFC) last released its earnings results on Tuesday, July 25th. The bank reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $178.21 million. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. Analysts forecast that Chemical Financial Corporation will post $2.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.28 dividend. The ex-dividend date is Wednesday, August 30th. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.44%. Chemical Financial Corporation’s dividend payout ratio (DPR) is 47.58%.
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Several brokerages have recently issued reports on CHFC. Piper Jaffray Companies began coverage on shares of Chemical Financial Corporation in a research note on Thursday, July 6th. They issued an “overweight” rating and a $56.00 target price on the stock. BidaskClub cut shares of Chemical Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Stephens reissued a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Zacks Investment Research cut shares of Chemical Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 17th. Finally, ValuEngine cut shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Chemical Financial Corporation has a consensus rating of “Hold” and a consensus price target of $56.17.
In other Chemical Financial Corporation news, Director Richard M. Lievense sold 14,659 shares of Chemical Financial Corporation stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $48.20, for a total transaction of $706,563.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.
About Chemical Financial Corporation
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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