Chemical Financial Corp. (CHFC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Chemical Financial Corp. (NASDAQ:CHFC) have earned an average rating of “Buy” from the eight ratings firms that are covering the company. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $41.33.
CHFC has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Chemical Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Stephens initiated coverage on shares of Chemical Financial Corp. in a research note on Friday, September 2nd. They issued an “equal weight” rating for the company.
In related news, CFO Dennis L. Klaeser sold 49,785 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $45.24, for a total transaction of $2,252,273.40. Following the completion of the sale, the chief financial officer now directly owns 86,913 shares in the company, valued at approximately $3,931,944.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lori A. Gwizdala sold 500 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $51.08, for a total transaction of $25,540.00. Following the sale, the insider now owns 48,395 shares of the company’s stock, valued at $2,472,016.60. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Chemical Financial Corp. by 271.9% in the first quarter. BlackRock Inc. now owns 3,079 shares of the company’s stock worth $110,000 after buying an additional 2,251 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Chemical Financial Corp. during the third quarter worth about $114,000. FineMark National Bank & Trust increased its position in shares of Chemical Financial Corp. by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,086 shares of the company’s stock worth $115,000 after buying an additional 17 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Chemical Financial Corp. by 4.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,783 shares of the company’s stock worth $123,000 after buying an additional 114 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in shares of Chemical Financial Corp. during the third quarter worth about $164,000. Institutional investors own 74.67% of the company’s stock.
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Chemical Financial Corp. (NASDAQ:CHFC) opened at 51.96 on Friday. The stock has a 50 day moving average of $46.00 and a 200 day moving average of $42.48. Chemical Financial Corp. has a one year low of $29.40 and a one year high of $53.03. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 25.33 and a beta of 1.04.
Chemical Financial Corp. (NASDAQ:CHFC) last posted its earnings results 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 net margin of 19.60% and a return on equity of 8.15%. Equities research analysts predict that Chemical Financial Corp. will post $2.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. Chemical Financial Corp.’s dividend payout ratio is presently 50.47%.
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.
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