Boenning Scattergood set a $43.00 price target on Chemical Financial (NASDAQ:CHFC) in a research report report published on Tuesday morning. The brokerage currently has a sell rating on the bank’s stock.
Several other equities research analysts have also recently commented on the company. BidaskClub raised Chemical Financial from a buy rating to a strong-buy rating in a research note on Wednesday, December 6th. ValuEngine cut Chemical Financial from a buy rating to a hold rating in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a buy rating and issued a $55.00 price target on shares of Chemical Financial in a research note on Friday, October 27th. Keefe, Bruyette & Woods cut Chemical Financial from an outperform rating to a market perform rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised Chemical Financial from a hold rating to a buy rating and set a $59.00 price target for the company in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Chemical Financial currently has a consensus rating of Hold and a consensus target price of $54.57.
Shares of Chemical Financial (NASDAQ:CHFC) traded down $0.14 during midday trading on Tuesday, hitting $53.05. The company had a trading volume of 89,743 shares, compared to its average volume of 270,733. The company has a market cap of $3,771.24, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.61 and a beta of 1.15. Chemical Financial has a 1-year low of $43.61 and a 1-year high of $58.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.
Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The business had revenue of $175.75 million during the quarter, compared to analysts’ expectations of $182.78 million. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The firm’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. analysts predict that Chemical Financial will post 2.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.12 annualized dividend and a yield of 2.11%. Chemical Financial’s dividend payout ratio (DPR) is currently 42.75%.
In related news, Director Larry D. Stauffer sold 1,900 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $53.19, for a total value of $101,061.00. Following the completion of the sale, the director now directly owns 15,853 shares in the company, valued at approximately $843,221.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald A. Klein sold 2,619 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $56.75, for a total value of $148,628.25. Following the completion of the sale, the director now owns 9,139 shares of the company’s stock, valued at $518,638.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,619 shares of company stock valued at $755,964. Corporate insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Optimum Investment Advisors acquired a new stake in Chemical Financial in the 3rd quarter worth approximately $246,000. Public Employees Retirement System of Ohio lifted its holdings in Chemical Financial by 18.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 46,799 shares of the bank’s stock worth $2,446,000 after purchasing an additional 7,329 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Chemical Financial by 1.0% in the 3rd quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock worth $25,165,000 after purchasing an additional 4,836 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Chemical Financial by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 160,774 shares of the bank’s stock worth $8,402,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Chemical Financial by 113.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock worth $240,000 after buying an additional 2,448 shares during the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
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Chemical Financial Company Profile
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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