BidaskClub Lowers Chemical Financial (CHFC) to Strong Sell

BidaskClub lowered shares of Chemical Financial (NASDAQ:CHFC) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.

CHFC has been the topic of several other research reports. ValuEngine cut Chemical Financial from a sell rating to a strong sell rating in a report on Friday, October 26th. Zacks Investment Research upgraded Chemical Financial from a sell rating to a hold rating in a report on Friday, November 30th. Boenning Scattergood upgraded Chemical Financial from an under perform rating to a neutral rating in a report on Thursday, October 25th. Finally, Raymond James reiterated a buy rating and issued a $53.00 price target on shares of Chemical Financial in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Chemical Financial has an average rating of Hold and a consensus target price of $59.00.

Chemical Financial stock opened at $40.06 on Thursday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 13.09, a PEG ratio of 1.14 and a beta of 1.12. Chemical Financial has a 12-month low of $39.91 and a 12-month high of $59.83. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). The firm had revenue of $197.40 million during the quarter, compared to the consensus estimate of $200.16 million. Chemical Financial had a net margin of 24.78% and a return on equity of 9.98%. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, equities analysts predict that Chemical Financial will post 3.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, December 6th. Chemical Financial’s dividend payout ratio is 44.44%.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Chemical Financial by 5.8% during the second quarter. BlackRock Inc. now owns 8,029,543 shares of the bank’s stock worth $447,003,000 after buying an additional 440,300 shares during the last quarter. Vanguard Group Inc boosted its holdings in Chemical Financial by 1.5% during the third quarter. Vanguard Group Inc now owns 6,679,182 shares of the bank’s stock worth $356,668,000 after buying an additional 101,931 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Chemical Financial by 1.5% during the third quarter. Vanguard Group Inc. now owns 6,679,182 shares of the bank’s stock worth $356,668,000 after buying an additional 101,931 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Chemical Financial by 92.0% during the third quarter. Prudential Financial Inc. now owns 185,694 shares of the bank’s stock worth $9,917,000 after buying an additional 88,957 shares during the last quarter. Finally, WBI Investments Inc. bought a new position in Chemical Financial during the second quarter worth about $4,811,000. Institutional investors and hedge funds own 83.06% of the company’s stock.

Chemical Financial Company Profile

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.

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Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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