Analysts Anticipate Chemical Financial Corporation (NASDAQ:CHFC) Will Announce Earnings of $0.73 Per Share
Equities research analysts expect that Chemical Financial Corporation (NASDAQ:CHFC) will post $0.73 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Chemical Financial Corporation’s earnings, with estimates ranging from $0.72 to $0.75. Chemical Financial Corporation posted earnings per share of $0.72 in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, July 25th.
On average, analysts expect that Chemical Financial Corporation will report full year earnings of $3.02 per share for the current fiscal year, with EPS estimates ranging from $2.96 to $3.07. For the next year, analysts expect that the firm will post earnings of $3.38 per share, with EPS estimates ranging from $3.22 to $3.49. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Chemical Financial Corporation.
Chemical Financial Corporation (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, April 25th. The bank reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The firm had revenue of $168.11 million for the quarter, compared to analysts’ expectations of $173.51 million. Chemical Financial Corporation had a net margin of 21.37% and a return on equity of 7.47%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Chemical Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. BidaskClub raised shares of Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Stephens raised shares of Chemical Financial Corporation from an “equal weight” rating to an “overweight” rating and set a $56.00 target price on the stock in a report on Monday. Piper Jaffray Companies started 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 on the stock. Finally, DA Davidson started 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 on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Chemical Financial Corporation presently has an average rating of “Buy” and an average price target of $56.33.
Chemical Financial Corporation (NASDAQ CHFC) traded down 0.02% during mid-day trading on Monday, hitting $49.06. 132,469 shares of the stock traded hands. The company has a market cap of $3.49 billion, a P/E ratio of 21.51 and a beta of 1.13. The company’s 50 day moving average is $46.99 and its 200 day moving average is $50.17. Chemical Financial Corporation has a 12 month low of $36.92 and a 12 month high of $55.55.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, May 31st. Chemical Financial Corporation’s payout ratio is 48.87%.
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In related news, Director Richard M. Lievense sold 13,351 shares of the company’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $47.87, for a total transaction of $639,112.37. Following the sale, the director now owns 59,192 shares of the company’s stock, valued at $2,833,521.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CHFC. Nationwide Fund Advisors increased its stake in Chemical Financial Corporation by 27.0% in the first quarter. Nationwide Fund Advisors now owns 229,860 shares of the bank’s stock worth $11,757,000 after buying an additional 48,842 shares during the last quarter. Retirement Systems of Alabama increased 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 last quarter. Johanson Financial Advisors Inc. acquired a new stake in Chemical Financial Corporation during the first quarter worth about $789,000. Louisiana State Employees Retirement System increased its stake in Chemical Financial Corporation by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock worth $916,000 after buying an additional 500 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Chemical Financial Corporation by 4.9% in the first quarter. Capstone Asset Management Co. now owns 5,179 shares of the bank’s stock valued at $265,000 after buying an additional 240 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors.
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.
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