Outfitter Advisors LTD. raised its position in Chemical Financial Corporation (NASDAQ:CHFC) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 47,340 shares of the bank’s stock after buying an additional 100 shares during the period. Outfitter Advisors LTD.’s holdings in Chemical Financial Corporation were worth $2,292,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Glen Harbor Capital Management LLC raised its position in Chemical Financial Corporation by 9.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,176 shares of the bank’s stock worth $111,000 after buying an additional 192 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Chemical Financial Corporation by 4.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,892 shares of the bank’s stock worth $148,000 after buying an additional 131 shares in the last quarter. Tyers Asset Management LLC raised its position in Chemical Financial Corporation by 9.7% in the first quarter. Tyers Asset Management LLC now owns 2,992 shares of the bank’s stock worth $153,000 after buying an additional 264 shares in the last quarter. Creative Planning raised its position in Chemical Financial Corporation by 11.2% in the first quarter. Creative Planning now owns 3,043 shares of the bank’s stock worth $156,000 after buying an additional 307 shares in the last quarter. Finally, Huntington National Bank acquired a new position in Chemical Financial Corporation during the second quarter worth approximately $152,000. 79.43% of the stock is currently owned by institutional investors.
Chemical Financial Corporation (CHFC) opened at 45.81 on Friday. The stock’s 50 day moving average price is $48.12 and its 200 day moving average price is $49.21. Chemical Financial Corporation has a 52 week low of $40.93 and a 52 week high of $55.55. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 19.20 and a beta of 1.12.
Chemical Financial Corporation (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $179.52 million for the quarter, compared to analyst estimates of $178.21 million. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. On average, equities research analysts predict that Chemical Financial Corporation will post $2.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Chemical Financial Corporation’s previous quarterly dividend of $0.27. Chemical Financial Corporation’s payout ratio is currently 47.58%.
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A number of equities analysts have commented on the company. BidaskClub lowered Chemical Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $54.00 price objective on shares of Chemical Financial Corporation in a research note on Thursday. Stephens reissued a “buy” rating on shares of Chemical Financial Corporation in a research note on Wednesday, July 26th. Boenning Scattergood reissued a “hold” rating on shares of Chemical Financial Corporation in a research note on Wednesday, July 26th. Finally, ValuEngine lowered Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.17.
In related news, Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $48.20, for a total transaction of $706,563.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.
About Chemical Financial Corporation
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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