Argent Capital Management LLC boosted its position in Chemical Financial Corporation (NASDAQ:CHFC) by 41.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,156 shares of the bank’s stock after buying an additional 12,441 shares during the period. Argent Capital Management LLC owned 0.06% of Chemical Financial Corporation worth $2,156,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Comerica Bank raised its stake in Chemical Financial Corporation by 5.8% in the fourth quarter. Comerica Bank now owns 63,043 shares of the bank’s stock valued at $3,331,000 after buying an additional 3,467 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Chemical Financial Corporation during the fourth quarter valued at about $187,000. Russell Investments Group Ltd. purchased a new stake in shares of Chemical Financial Corporation during the fourth quarter valued at about $3,790,000. HBK Investments L P purchased a new stake in shares of Chemical Financial Corporation during the third quarter valued at about $304,000. Finally, Retirement Systems of Alabama raised its stake in Chemical Financial Corporation by 0.7% in the first quarter. Retirement Systems of Alabama now owns 91,749 shares of the bank’s stock worth $4,693,000 after buying an additional 648 shares during the period. Institutional investors own 79.44% of the company’s stock.

Institutional Ownership by Quarter for Chemical Financial Corporation (NASDAQ:CHFC)

Chemical Financial Corporation (NASDAQ:CHFC) traded down 1.12% during mid-day trading on Friday, hitting $48.65. The company had a trading volume of 847,607 shares. The firm has a market capitalization of $3.46 billion, a PE ratio of 21.33 and a beta of 1.14. The company has a 50 day moving average of $47.36 and a 200 day moving average of $50.57. Chemical Financial Corporation has a 1-year low of $34.82 and a 1-year high of $55.55.

Chemical Financial Corporation (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, April 25th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.01. Chemical Financial Corporation had a net margin of 21.37% and a return on equity of 7.47%. The company had revenue of $168.11 million for the quarter, compared to the consensus estimate of $173.51 million. Analysts predict that Chemical Financial Corporation will post $3.01 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, May 31st. Chemical Financial Corporation’s dividend payout ratio (DPR) is 48.87%.

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A number of research firms have recently weighed in on CHFC. Zacks Investment Research lowered Chemical Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. BidaskClub upgraded Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday. Hilliard Lyons upgraded Chemical Financial Corporation to a “buy” rating and boosted their price target for the company from $54.00 to $55.00 in a report on Friday, April 28th. Finally, Keefe, Bruyette & Woods set a $55.00 price target on Chemical Financial Corporation and gave the company a “buy” rating in a report on Saturday, April 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.00.

In related news, Director Richard M. Lievense sold 13,351 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $47.87, for a total value of $639,112.37. Following the transaction, the director now directly owns 59,192 shares of the company’s stock, valued at approximately $2,833,521.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company 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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