KCG Holdings Inc. Invests $235,000 in Chemical Financial Corporation (CHFC)

KCG Holdings Inc. purchased a new position in Chemical Financial Corporation (NASDAQ:CHFC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,602 shares of the bank’s stock, valued at approximately $235,000.

Several other hedge funds also recently made changes to their positions in CHFC. Oregon Public Employees Retirement Fund boosted its stake in shares of Chemical Financial Corporation by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,500 shares of the bank’s stock worth $1,253,000 after buying an additional 300 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of 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 worth $111,000 after buying an additional 192 shares during the last quarter. Mesirow Financial Investment Management Equity Management boosted its stake in shares of Chemical Financial Corporation by 4.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 472,170 shares of the bank’s stock worth $24,152,000 after buying an additional 18,835 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Chemical Financial Corporation by 9.9% in the first quarter. Sigma Planning Corp now owns 12,419 shares of the bank’s stock worth $635,000 after buying an additional 1,123 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Chemical Financial Corporation by 3.0% in the first quarter. First Manhattan Co. now owns 201,216 shares of the bank’s stock worth $8,879,000 after buying an additional 5,895 shares during the last quarter. Institutional investors and hedge funds own 79.19% of the company’s stock.

Chemical Financial Corporation (NASDAQ:CHFC) opened at 45.10 on Friday. Chemical Financial Corporation has a one year low of $40.93 and a one year high of $55.55. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.90 and a beta of 1.12. The company has a 50-day moving average price of $48.03 and a 200-day moving average price of $49.07.

Chemical Financial Corporation (NASDAQ:CHFC) last posted its earnings results 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 company had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $178.21 million. Equities research analysts anticipate that Chemical Financial Corporation will post $2.96 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. Chemical Financial Corporation’s payout ratio is 47.58%.

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A number of brokerages have recently weighed in on CHFC. Stephens reiterated a “buy” rating on shares of Chemical Financial Corporation in a research report on Wednesday, July 26th. Boenning Scattergood reiterated a “hold” rating on shares of Chemical Financial Corporation in a research 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 began coverage on Chemical Financial Corporation in a report on Thursday, July 6th. They issued an “overweight” rating and a $56.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.17.

In related news, Director Larry D. Stauffer sold 2,110 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total value of $100,161.70. Following the completion of the transaction, the director now owns 13,246 shares in the company, valued at approximately $628,787.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was 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.

Chemical Financial Corporation 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.

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

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