Somewhat Positive Press Coverage Somewhat Unlikely to Affect Chemical Financial Corporation (CHFC) Share Price
News stories about Chemical Financial Corporation (NASDAQ:CHFC) have trended somewhat positive this week, according to Accern. Accern scores the sentiment of press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Chemical Financial Corporation earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned media stories about the bank an impact score of 46.306061239095 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:
- Bank closing 25 branches and cutting workforce (grbj.com)
- Chemical Financial Corporation Forecasted to Earn FY2017 Earnings of $3.00 Per Share (CHFC) (americanbankingnews.com)
- Chemical Bank announces restructuring, closures and layoffs (cadillacnews.com)
- Chemical Bank to close 25 branches, trim workforce by 7 percent (mibiz.com)
Shares of Chemical Financial Corporation (NASDAQ CHFC) opened at 48.61 on Friday. Chemical Financial Corporation has a 52-week low of $40.93 and a 52-week high of $55.55. The firm has a market capitalization of $3.46 billion, a PE ratio of 20.37 and a beta of 1.14. The firm’s 50-day moving average price is $46.37 and its 200-day moving average price is $48.33.
Chemical Financial Corporation (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm had revenue of $179.52 million during the quarter, compared to analyst estimates of $178.21 million. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. On average, equities analysts predict that Chemical Financial Corporation will post $2.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.28 dividend. This is a positive change from Chemical Financial Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, August 30th. Chemical Financial Corporation’s payout ratio is currently 49.34%.
CHFC has been the subject of a number of recent analyst reports. BidaskClub upgraded Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Boenning Scattergood restated a “hold” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Stephens restated a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Zacks Investment Research upgraded Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, DA Davidson began coverage on Chemical Financial Corporation in a research note on Wednesday, July 5th. They issued a “buy” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Chemical Financial Corporation has an average rating of “Hold” and an average price target of $56.17.
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In related news, Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $48.20, for a total value of $706,563.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larry D. Stauffer sold 2,110 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total value of $100,161.70. Following the completion of the sale, the director now directly owns 13,246 shares of the company’s stock, valued at $628,787.62. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
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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