Chemical Financial Corporation (NASDAQ:CHFC) insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $54.50, for a total transaction of $152,600.00. Following the transaction, the insider now owns 49,574 shares in the company, valued at $2,701,783. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Chemical Financial Corporation (NASDAQ:CHFC) traded down 3.14% during mid-day trading on Monday, reaching $52.18. The company had a trading volume of 323,783 shares. The stock’s 50-day moving average is $51.46 and its 200 day moving average is $48.48. Chemical Financial Corporation has a 12 month low of $40.93 and a 12 month high of $55.55. The firm has a market capitalization of $3.71 billion, a P/E ratio of 21.87 and a beta of 1.15.
Chemical Financial Corporation (NASDAQ:CHFC) last announced its earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Chemical Financial Corporation had a return on equity of 8.05% and a net margin of 24.23%. The business had revenue of $175.75 million during the quarter, compared to the consensus estimate of $182.78 million. During the same period in the prior year, the business posted $0.75 earnings per share. Chemical Financial Corporation’s revenue was up 41.1% compared to the same quarter last year. On average, analysts predict that Chemical Financial Corporation will post $2.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, November 30th. Chemical Financial Corporation’s dividend payout ratio is 42.75%.
A number of institutional investors have recently made changes to their positions in CHFC. UBS Asset Management Americas Inc. lifted its stake in Chemical Financial Corporation by 27.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 42,768 shares of the bank’s stock worth $2,188,000 after acquiring an additional 9,082 shares in the last quarter. Credit Agricole S A acquired a new position in Chemical Financial Corporation in the 1st quarter worth about $280,000. Legal & General Group Plc increased its position in Chemical Financial Corporation by 29.0% in the 1st quarter. Legal & General Group Plc now owns 43,869 shares of the bank’s stock worth $2,246,000 after purchasing an additional 9,868 shares during the last quarter. Vanguard Group Inc. increased its position in Chemical Financial Corporation by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 6,014,072 shares of the bank’s stock worth $307,620,000 after purchasing an additional 374,588 shares during the last quarter. Finally, BlackRock Inc. increased its position in Chemical Financial Corporation by 18,200.8% in the 1st quarter. BlackRock Inc. now owns 7,121,205 shares of the bank’s stock worth $364,250,000 after purchasing an additional 7,082,293 shares during the last quarter. 78.43% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on CHFC. Piper Jaffray Companies assumed coverage on shares of Chemical Financial Corporation in a research report on Thursday, July 6th. They set an “overweight” rating and a $56.00 target price on the stock. BidaskClub downgraded Chemical Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Boenning Scattergood downgraded Chemical Financial Corporation from a “neutral” rating to an “under perform” rating and set a $41.50 price target for the company. in a report on Tuesday, September 19th. Stephens reaffirmed a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Finally, Zacks Investment Research raised Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $54.07.
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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