Chemical Financial Corporation (NASDAQ:CHFC) – Equities research analysts at Boenning Scattergood cut their Q3 2017 earnings estimates for shares of Chemical Financial Corporation in a note issued to investors on Wednesday. Boenning Scattergood analyst S. Beury now expects that the bank will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.76. Boenning Scattergood currently has a “Hold” rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Chemical Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 10th. Hilliard Lyons raised shares of Chemical Financial Corporation to a “buy” rating and increased their target price for the stock from $54.00 to $55.00 in a report on Friday, April 28th. BidaskClub raised shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. DA Davidson began coverage on shares of Chemical Financial Corporation in a report on Wednesday, July 5th. They issued a “buy” rating and a $58.00 target price for the company. Finally, Piper Jaffray Companies began coverage on shares of Chemical Financial Corporation in a report on Thursday, July 6th. They issued an “overweight” rating and a $56.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Chemical Financial Corporation presently has a consensus rating of “Buy” and a consensus price target of $56.33.

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Chemical Financial Corporation (NASDAQ:CHFC) opened at 48.78 on Thursday. The company’s 50-day moving average is $48.56 and its 200 day moving average is $49.52. Chemical Financial Corporation has a one year low of $40.93 and a one year high of $55.55. The company has a market capitalization of $3.47 billion, a P/E ratio of 21.39 and a beta of 1.13.

Chemical Financial Corporation (NASDAQ:CHFC) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. The firm had revenue of $179.52 million during the quarter, compared to the consensus estimate of $178.21 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Chemical Financial Corporation’s previous quarterly dividend of $0.27. Chemical Financial Corporation’s dividend payout ratio (DPR) is 47.58%.

A number of hedge funds and other institutional investors have recently modified their holdings of CHFC. Oregon Public Employees Retirement Fund raised its position in shares of Chemical Financial Corporation by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,500 shares of the bank’s stock worth $1,253,000 after buying an additional 300 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Chemical Financial Corporation by 9.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,176 shares of the bank’s stock worth $111,000 after buying an additional 192 shares during the period. Mesirow Financial Investment Management Equity Management raised its position in shares of Chemical Financial Corporation by 4.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 472,170 shares of the bank’s stock worth $24,152,000 after buying an additional 18,835 shares during the period. Sigma Planning Corp raised its position in shares of Chemical Financial Corporation by 9.9% in the first quarter. Sigma Planning Corp now owns 12,419 shares of the bank’s stock worth $635,000 after buying an additional 1,123 shares during the period. Finally, First Manhattan Co. raised its position in shares of Chemical Financial Corporation by 3.0% in the first quarter. First Manhattan Co. now owns 201,216 shares of the bank’s stock worth $8,879,000 after buying an additional 5,895 shares during the period. Institutional investors and hedge funds own 79.07% of the company’s stock.

Chemical Financial Corporation 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.

Earnings History and Estimates for Chemical Financial Corporation (NASDAQ:CHFC)

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