Chemung Financial (NASDAQ:CHMG) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Chemung Financial (CHMG) traded up $3.39 on Friday, reaching $52.14. The company had a trading volume of 4,577 shares, compared to its average volume of 3,819. Chemung Financial has a one year low of $31.72 and a one year high of $53.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $247.16, a PE ratio of 19.90 and a beta of 0.22.
Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. Chemung Financial had a return on equity of 8.39% and a net margin of 15.94%. The company had revenue of $19.93 million during the quarter.
Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Chemung Financial by 38.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 15,917 shares of the bank’s stock worth $749,000 after buying an additional 4,400 shares during the period. Schwab Charles Investment Management Inc. purchased a new stake in shares of Chemung Financial in the 3rd quarter worth $212,000. Wells Fargo & Company MN lifted its holdings in shares of Chemung Financial by 22.5% in the 3rd quarter. Wells Fargo & Company MN now owns 7,941 shares of the bank’s stock worth $374,000 after buying an additional 1,457 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Chemung Financial by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,800 shares of the bank’s stock worth $309,000 after buying an additional 1,220 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of Chemung Financial in the 3rd quarter worth $213,000. Institutional investors and hedge funds own 30.90% of the company’s stock.
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Chemung Financial Company Profile
Chemung Financial Corporation is a bank holding company. The Company, through its subsidiaries, Chemung Canal Trust Company (the Bank) and CFS Group, Inc (CFS), provides a range of banking, financing, fiduciary and other financial services to its clients. The Company manages its operations through two segments: core banking and Wealth Management Group (WMG).
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