Boenning Scattergood Comments on Chemical Financial Corporation’s Q1 2018 Earnings (CHFC)

Chemical Financial Corporation (NASDAQ:CHFC) – Investment analysts at Boenning Scattergood upped their Q1 2018 earnings per share estimates for shares of Chemical Financial in a research note issued to investors on Wednesday. Boenning Scattergood analyst S. Beury now anticipates that the bank will earn $0.88 per share for the quarter, up from their previous estimate of $0.78. Boenning Scattergood has a “Sell” rating on the stock. Boenning Scattergood also issued estimates for Chemical Financial’s FY2018 earnings at $3.67 EPS and FY2019 earnings at $3.91 EPS.

Several other research firms have also recently weighed in on CHFC. Zacks Investment Research cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. BidaskClub cut shares of Chemical Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods cut shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $55.00 price objective on shares of Chemical Financial in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $54.07.

Chemical Financial (CHFC) opened at $54.46 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market cap of $3,892.94, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. Chemical Financial has a 12-month low of $43.61 and a 12-month high of $58.17.

Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The firm had revenue of $175.75 million for the quarter, compared to analyst estimates of $182.78 million. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. The firm’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Thursday, November 30th. Chemical Financial’s dividend payout ratio (DPR) is currently 42.75%.

In other Chemical Financial news, Director Larry D. Stauffer sold 1,900 shares of Chemical Financial stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.19, for a total transaction of $101,061.00. Following the completion of the sale, the director now owns 15,853 shares of the company’s stock, valued at approximately $843,221.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald A. Klein sold 2,619 shares of Chemical Financial stock in a transaction on Monday, December 4th. The shares were sold at an average price of $56.75, for a total transaction of $148,628.25. Following the sale, the director now directly owns 9,139 shares of the company’s stock, valued at approximately $518,638.25. The disclosure for this sale can be found here. Insiders have sold a total of 13,619 shares of company stock valued at $755,964 in the last three months. Company insiders own 2.20% of the company’s stock.

Several large investors have recently modified their holdings of the business. Teacher Retirement System of Texas lifted its stake in shares of Chemical Financial by 2.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,722 shares of the bank’s stock valued at $277,000 after purchasing an additional 117 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Chemical Financial by 3.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,622 shares of the bank’s stock worth $272,000 after acquiring an additional 205 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Chemical Financial by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock worth $1,911,000 after acquiring an additional 299 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Chemical Financial by 1.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,153 shares of the bank’s stock worth $1,072,000 after acquiring an additional 339 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Chemical Financial by 19.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock worth $116,000 after acquiring an additional 389 shares during the last quarter. 78.42% of the stock is owned by institutional investors.

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Chemical Financial 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.

Earnings History and Estimates for Chemical Financial (NASDAQ:CHFC)

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