California Public Employees Retirement System increased its stake in shares of Chemical Financial Co. (NASDAQ:CHFC) by 5.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 160,774 shares of the bank’s stock after purchasing an additional 8,474 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Chemical Financial worth $8,402,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Chemical Financial by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 870,782 shares of the bank’s stock worth $42,153,000 after purchasing an additional 13,044 shares during the period. Prudential Financial Inc. lifted its holdings in Chemical Financial by 141.7% during the 2nd quarter. Prudential Financial Inc. now owns 114,197 shares of the bank’s stock worth $5,528,000 after buying an additional 66,940 shares in the last quarter. Chatham Capital Group Inc. lifted its holdings in Chemical Financial by 8.2% during the 2nd quarter. Chatham Capital Group Inc. now owns 30,815 shares of the bank’s stock worth $1,492,000 after buying an additional 2,335 shares in the last quarter. Sei Investments Co. lifted its holdings in Chemical Financial by 10.6% during the 3rd quarter. Sei Investments Co. now owns 22,483 shares of the bank’s stock worth $1,175,000 after buying an additional 2,154 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Chemical Financial by 91.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,630 shares of the bank’s stock worth $1,725,000 after buying an additional 17,034 shares in the last quarter. 78.42% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Gregory R. Bixby sold 3,500 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total value of $199,675.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Larry D. Stauffer sold 1,900 shares of the firm’s 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 in the company, valued at $843,221.07. The disclosure for this sale can be found here. Insiders sold a total of 13,619 shares of company stock worth $755,964 over the last 90 days. Company insiders own 2.20% of the company’s stock.
Shares of Chemical Financial Co. (NASDAQ:CHFC) opened at $53.47 on Monday. The stock has a market cap of $3,805.41, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. Chemical Financial Co. has a fifty-two week low of $43.61 and a fifty-two week high of $58.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.
Chemical Financial (NASDAQ:CHFC) last released its earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.02. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. The company had revenue of $175.75 million for the quarter, compared to analyst estimates of $182.78 million. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. equities analysts predict that Chemical Financial Co. will post 2.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.09%. Chemical Financial’s payout ratio is 42.75%.
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About Chemical Financial
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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