Northern Trust Corp Has $1.39 Million Position in Chemung Financial Corp (CHMG)

Northern Trust Corp increased its stake in shares of Chemung Financial Corp (NASDAQ:CHMG) by 5.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,919 shares of the bank’s stock after buying an additional 1,601 shares during the quarter. Northern Trust Corp owned about 0.71% of Chemung Financial worth $1,386,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC lifted its position in Chemung Financial by 8.6% during the second quarter. Teachers Advisors LLC now owns 5,350 shares of the bank’s stock worth $219,000 after buying an additional 424 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Chemung Financial by 166.9% during the second quarter. JPMorgan Chase & Co. now owns 5,580 shares of the bank’s stock worth $228,000 after buying an additional 3,489 shares in the last quarter. Wells Fargo & Company MN lifted its position in Chemung Financial by 47.9% during the second quarter. Wells Fargo & Company MN now owns 6,484 shares of the bank’s stock worth $265,000 after buying an additional 2,101 shares in the last quarter. Private Advisor Group LLC lifted its position in Chemung Financial by 18.2% during the second quarter. Private Advisor Group LLC now owns 7,169 shares of the bank’s stock worth $291,000 after buying an additional 1,106 shares in the last quarter. Finally, Strs Ohio lifted its position in Chemung Financial by 5.4% during the second quarter. Strs Ohio now owns 7,800 shares of the bank’s stock worth $318,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 30.90% of the company’s stock.

Shares of Chemung Financial Corp (CHMG) opened at $50.65 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $247.16, a price-to-earnings ratio of 19.90 and a beta of 0.22. Chemung Financial Corp has a one year low of $31.72 and a one year high of $55.15.

Chemung Financial (NASDAQ:CHMG) last posted its earnings results on Thursday, October 19th. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $19.93 million during the quarter. Chemung Financial had a return on equity of 8.39% and a net margin of 15.94%.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, December 18th. This represents a $1.04 annualized dividend and a yield of 2.05%. Chemung Financial’s dividend payout ratio (DPR) is 39.69%.

Separately, ValuEngine upgraded Chemung Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th.

In other Chemung Financial news, CFO Karl Francis Krebs sold 750 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $46.67, for a total transaction of $35,002.50. Following the completion of the sale, the chief financial officer now owns 3,462 shares of the company’s stock, valued at $161,571.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.28% of the stock is owned by company insiders.

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Chemung Financial 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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Institutional Ownership by Quarter for Chemung Financial (NASDAQ:CHMG)

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