Chemung Financial Corp (CHMG) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Chemung Financial Corp (NASDAQ:CHMG) posted its quarterly earnings data on Friday. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03, Yahoo Finance reports. The company had revenue of $18.97 million during the quarter. Chemung Financial Corp had a return on equity of 7.99% and a net margin of 15.01%.

Chemung Financial Corp (NASDAQ:CHMG) opened at 40.40 on Friday. The firm has a market capitalization of $191.17 million, a PE ratio of 18.72 and a beta of 0.18. Chemung Financial Corp has a 52-week low of $27.45 and a 52-week high of $41.74. The stock’s 50 day moving average price is $40.49 and its 200 day moving average price is $37.79.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 19th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, June 15th. This represents a $1.04 annualized dividend and a dividend yield of 2.57%. Chemung Financial Corp’s dividend payout ratio is currently 42.62%.

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In other news, Director David J. Dalrymple bought 4,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The stock was acquired at an average cost of $38.00 per share, with a total value of $163,400.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald M. Bentley sold 6,978 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $38.25, for a total value of $266,908.50. Following the completion of the sale, the director now directly owns 41,200 shares of the company’s stock, valued at $1,575,900. The disclosure for this sale can be found here. Insiders own 22.28% of the company’s stock.

About Chemung Financial Corp

Chemung Financial Corporation is a bank holding company. The Company, through its subsidiaries, Chemung Canal Trust Company (the Bank) and CFS Group, Inc (CFS), provides a range of banking, financing, fiduciary and other financial services to its clients. The Company manages its operations through two segments: core banking and Wealth Management Group (WMG).

Earnings History for Chemung Financial Corp (NASDAQ:CHMG)

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