Chemical Financial (NASDAQ:CHFC) Stock Rating Lowered by ValuEngine

Chemical Financial (NASDAQ:CHFC) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other equities analysts have also recently commented on CHFC. BidaskClub upgraded Wintrust Financial from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. FIG Partners upgraded Chemical Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Tuesday, March 26th. Piper Jaffray Companies dropped their target price on Apyx Medical to $7.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Finally, Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Chemical Financial has an average rating of “Hold” and a consensus price target of $52.71.

NASDAQ:CHFC opened at $40.11 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15. Chemical Financial has a 1 year low of $34.62 and a 1 year high of $59.10. The business has a 50 day moving average price of $40.08. The company has a market cap of $2.93 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.10 and a beta of 1.48.

Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.03. Chemical Financial had a return on equity of 10.14% and a net margin of 29.14%. The business had revenue of $187.68 million for the quarter, compared to the consensus estimate of $202.40 million. During the same quarter in the previous year, the company posted $0.97 EPS. On average, equities research analysts expect that Chemical Financial will post 4.14 EPS for the current fiscal year.

In related news, CEO David T. Provost bought 10,100 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was purchased at an average price of $39.19 per share, for a total transaction of $395,819.00. Following the acquisition, the chief executive officer now owns 104,494 shares in the company, valued at $4,095,119.86. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas C. Shafer bought 6,380 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $39.12 per share, with a total value of $249,585.60. Following the acquisition, the insider now owns 31,555 shares in the company, valued at approximately $1,234,431.60. The disclosure for this purchase can be found here. In the last quarter, insiders bought 26,498 shares of company stock valued at $1,037,609. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its holdings in Chemical Financial by 5.9% during the 1st quarter. New York State Common Retirement Fund now owns 83,149 shares of the bank’s stock valued at $3,422,000 after acquiring an additional 4,661 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Chemical Financial by 4.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 12,295 shares of the bank’s stock valued at $506,000 after acquiring an additional 500 shares during the period. Argent Capital Management LLC boosted its holdings in Chemical Financial by 7.4% during the 1st quarter. Argent Capital Management LLC now owns 41,963 shares of the bank’s stock valued at $1,727,000 after acquiring an additional 2,875 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in Chemical Financial during the 4th quarter valued at $628,000. Finally, Alpine Associates Management Inc. purchased a new position in Chemical Financial during the 1st quarter valued at $15,122,000. Institutional investors own 86.70% of the company’s stock.

Chemical Financial Company Profile

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers a range of 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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