Chemung Financial Corp (CHMG) to Issue Quarterly Dividend of $0.36 on October 1st

Chemung Financial Corp (NASDAQ:CHMG) announced a quarterly dividend on Tuesday, August 18th. Shareholders of record on Thursday, September 17th will be given a dividend of 0.36 per share by the bank on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 17th. This is a 5.9% increase from Chemung Financial’s previous quarterly dividend of $0.34.

Chemung Financial has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Chemung Financial has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chemung Financial to earn $8.00 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 18.0%.

Chemung Financial Trading Down 0.1%

Shares of CHMG stock opened at $84.99 on Tuesday. Chemung Financial has a 1-year low of $49.82 and a 1-year high of $86.00. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a market cap of $409.65 million, a price-to-earnings ratio of 12.21 and a beta of 0.57. The stock has a 50-day moving average of $80.76 and a 200-day moving average of $69.80.

Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.05. Chemung Financial had a return on equity of 12.98% and a net margin of 20.68%.The company had revenue of $31.17 million for the quarter, compared to analyst estimates of $30.52 million. On average, equities research analysts forecast that Chemung Financial will post 7.54 earnings per share for the current year.

Chemung Financial Company Profile

Chemung Financial Corporation is a bank holding company headquartered in Elmira, New York. Its principal subsidiary, Chemung Canal Trust Company, provides community banking and financial services to individuals, families, businesses and nonprofit organizations.

The company’s offerings include checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial lending and other deposit and credit products. Through its trust and wealth management operations, Chemung Financial also provides investment management, financial planning, fiduciary and estate-related services.

Founded in 1833, Chemung Financial has a long history of serving the Southern Tier of New York and neighboring communities in northern Pennsylvania.