Chemical Financial Corp. (NASDAQ:CHFC) declared a quarterly dividend on Thursday, November 10th. Stockholders of record on Friday, December 2nd will be given a dividend of 0.27 per share on Friday, December 16th. This represents a $1.08 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 30th.

Chemical Financial Corp. (NASDAQ:CHFC) opened at 51.32 on Tuesday. The stock has a 50 day moving average price of $46.00 and a 200 day moving average price of $42.48. The firm has a market cap of $3.62 billion, a P/E ratio of 25.02 and a beta of 1.04. Chemical Financial Corp. has a 1-year low of $29.40 and a 1-year high of $53.03.

Chemical Financial Corp. (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. Chemical Financial Corp. had a return on equity of 8.15% and a net margin of 19.60%. On average, analysts anticipate that Chemical Financial Corp. will post $2.79 EPS for the current year.

Dividend History for Chemical Financial Corp. (NASDAQ:CHFC)

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In other news, Director David T. Provost sold 279,101 shares of Chemical Financial Corp. stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $45.24, for a total transaction of $12,626,529.24. Following the completion of the sale, the director now owns 324,610 shares in the company, valued at approximately $14,685,356.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas C. Shafer sold 34,456 shares of Chemical Financial Corp. stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $45.24, for a total value of $1,558,789.44. Following the sale, the executive vice president now owns 61,234 shares of the company’s stock, valued at approximately $2,770,226.16. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Chemical Financial Corp. by 34.3% in the second quarter. State Street Corp now owns 840,871 shares of the company’s stock worth $31,352,000 after buying an additional 214,939 shares during the period. Raymond James & Associates increased its stake in shares of Chemical Financial Corp. by 93.2% in the second quarter. Raymond James & Associates now owns 29,270 shares of the company’s stock worth $1,091,000 after buying an additional 14,118 shares during the period. Teachers Advisors Inc. increased its stake in shares of Chemical Financial Corp. by 34.9% in the second quarter. Teachers Advisors Inc. now owns 66,400 shares of the company’s stock worth $2,476,000 after buying an additional 17,187 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Chemical Financial Corp. by 5.6% in the second quarter. TIAA CREF Investment Management LLC now owns 178,259 shares of the company’s stock worth $6,647,000 after buying an additional 9,472 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Chemical Financial Corp. by 3.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,440,225 shares of the company’s stock worth $53,706,000 after buying an additional 44,350 shares during the period. Hedge funds and other institutional investors own 74.67% of the company’s stock.

Several research analysts have commented on CHFC shares. Zacks Investment Research downgraded Chemical Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Stephens started coverage on Chemical Financial Corp. in a research note on Friday, September 2nd. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Chemical Financial Corp. has a consensus rating of “Buy” and a consensus price target of $45.50.

About Chemical Financial Corp.

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. Its 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, debit cards, access to insurance and investment products, corporate and personal wealth management services, and other banking services.

5 Day Chart for NASDAQ:CHFC

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