Peregrine Capital Management LLC decreased its position in shares of Chemical Financial Co. (NASDAQ:CHFC) by 7.2% during the 4th quarter, HoldingsChannel reports. The fund owned 202,431 shares of the bank’s stock after selling 15,622 shares during the period. Peregrine Capital Management LLC’s holdings in Chemical Financial were worth $10,824,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CHFC. Zions Bancorporation acquired a new stake in shares of Chemical Financial during the 3rd quarter worth approximately $121,000. PNC Financial Services Group Inc. boosted its position in shares of Chemical Financial by 220.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock worth $177,000 after acquiring an additional 2,525 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Chemical Financial by 59.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock worth $185,000 after acquiring an additional 1,427 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Chemical Financial during the 2nd quarter worth approximately $205,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Chemical Financial by 99.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock worth $218,000 after acquiring an additional 2,074 shares in the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.
Several analysts recently issued reports on the stock. Hilliard Lyons upgraded shares of Chemical Financial from a “neutral” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, December 26th. Piper Jaffray Companies restated a “buy” rating and issued a $55.00 target price on shares of Chemical Financial in a research report on Friday, October 27th. DA Davidson raised their target price on shares of Chemical Financial from $4.09 to $70.00 and gave the company an “average” rating in a research report on Thursday. Finally, Boenning Scattergood set a $43.00 target price on shares of Chemical Financial and gave the company a “sell” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.29.
Shares of Chemical Financial Co. (NASDAQ:CHFC) opened at $59.18 on Friday. Chemical Financial Co. has a 52-week low of $43.61 and a 52-week high of $59.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $4,191.96, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15.
Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. The firm had revenue of $178.22 million for the quarter, compared to analyst estimates of $183.89 million. equities research analysts expect that Chemical Financial Co. will post 3.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, March 1st. Chemical Financial’s payout ratio is currently 53.59%.
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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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