Zacks: Brokerages Expect Chemical Financial Co. (CHFC) to Post $0.83 EPS

Equities research analysts forecast that Chemical Financial Co. (NASDAQ:CHFC) will post $0.83 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Chemical Financial’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.79. Chemical Financial reported earnings per share of $0.70 in the same quarter last year, which would suggest a positive year over year growth rate of 18.6%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, January 23rd.

On average, analysts expect that Chemical Financial will report full year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.80 to $3.04. For the next year, analysts forecast that the firm will report earnings of $3.76 per share, with EPS estimates ranging from $3.52 to $4.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Chemical Financial.

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, beating the Zacks’ consensus estimate of $0.77 by $0.02. The company 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS.

A number of research firms have issued reports on CHFC. ValuEngine upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub upgraded shares of Chemical Financial from a “sell” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods lowered shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. Piper Jaffray Companies reiterated a “buy” rating and set a $55.00 price objective on shares of Chemical Financial in a report on Friday, October 27th. Finally, Boenning Scattergood reiterated a “sell” rating on shares of Chemical Financial in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $55.57.

In related news, Director Ronald A. Klein sold 2,619 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $56.75, for a total value of $148,628.25. Following the transaction, the director now owns 9,139 shares in the company, valued at $518,638.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larry D. Stauffer sold 1,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 15,853 shares in the company, valued at approximately $843,221.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,619 shares of company stock worth $755,964. Insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors purchased a new position in Chemical Financial in the third quarter valued at approximately $246,000. Public Employees Retirement System of Ohio raised its holdings in Chemical Financial by 18.6% in the third quarter. Public Employees Retirement System of Ohio now owns 46,799 shares of the bank’s stock valued at $2,446,000 after buying an additional 7,329 shares during the period. Sterling Capital Management LLC raised its holdings in Chemical Financial by 1.0% in the third quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock valued at $25,165,000 after buying an additional 4,836 shares during the period. California Public Employees Retirement System raised its holdings in Chemical Financial by 5.6% in the third quarter. California Public Employees Retirement System now owns 160,774 shares of the bank’s stock valued at $8,402,000 after buying an additional 8,474 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Chemical Financial by 113.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock valued at $240,000 after buying an additional 2,448 shares during the period. Hedge funds and other institutional investors own 78.42% of the company’s stock.

Chemical Financial (NASDAQ:CHFC) traded up $0.38 during trading hours on Friday, reaching $56.28. 286,481 shares of the company’s stock were exchanged, compared to its average volume of 356,805. The stock has a market cap of $3,978.34, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.94. Chemical Financial has a 52 week low of $43.61 and a 52 week high of $58.17.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.12 annualized dividend and a dividend yield of 1.99%. Chemical Financial’s payout ratio is currently 42.75%.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Chemical Financial Co. (CHFC) to Post $0.83 EPS” was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2018/01/13/zacks-brokerages-expect-chemical-financial-co-chfc-to-post-0-83-eps.html.

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.

Get a free copy of the Zacks research report on Chemical Financial (CHFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Chemical Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemical Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit