Chemical Financial Corporation (CHFC) Holdings Raised by Broadview Advisors LLC
Broadview Advisors LLC raised its holdings in Chemical Financial Corporation (NASDAQ:CHFC) by 108.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,595 shares of the bank’s stock after acquiring an additional 86,100 shares during the quarter. Broadview Advisors LLC owned 0.23% of Chemical Financial Corporation worth $8,016,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in CHFC. Bank of New York Mellon Corp increased its holdings in Chemical Financial Corporation by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 870,782 shares of the bank’s stock valued at $42,153,000 after buying an additional 13,044 shares in the last quarter. Strs Ohio raised its position in shares of Chemical Financial Corporation by 6.0% during the 2nd quarter. Strs Ohio now owns 8,900 shares of the bank’s stock worth $430,000 after purchasing an additional 500 shares during the last quarter. Chatham Capital Group Inc. raised its position in shares of Chemical Financial Corporation by 8.2% during the 2nd quarter. Chatham Capital Group Inc. now owns 30,815 shares of the bank’s stock worth $1,492,000 after purchasing an additional 2,335 shares during the last quarter. State Street Corp raised its position in shares of Chemical Financial Corporation by 26.8% during the 1st quarter. State Street Corp now owns 3,301,324 shares of the bank’s stock worth $168,860,000 after purchasing an additional 696,794 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Chemical Financial Corporation by 141.7% during the 2nd quarter. Prudential Financial Inc. now owns 114,197 shares of the bank’s stock worth $5,528,000 after purchasing an additional 66,940 shares during the last quarter. 76.46% of the stock is owned by institutional investors.
A number of research firms have issued reports on CHFC. BidaskClub upgraded shares of Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Boenning Scattergood reiterated a “hold” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Stephens reiterated a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Zacks Investment Research raised Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, DA Davidson assumed coverage on shares of Chemical Financial Corporation in a research report on Wednesday, July 5th. They set a “buy” rating and a $58.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Chemical Financial Corporation has a consensus rating of “Hold” and a consensus price target of $54.07.
In other Chemical Financial Corporation news, Director Larry D. Stauffer sold 2,110 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total transaction of $100,161.70. Following the sale, the director now directly owns 13,246 shares in the company, valued at approximately $628,787.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard M. Lievense sold 14,659 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $48.20, for a total transaction of $706,563.80. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Shares of Chemical Financial Corporation (NASDAQ CHFC) traded down 0.82% during midday trading on Tuesday, reaching $52.31. The company had a trading volume of 80,013 shares. The firm’s 50 day moving average price is $47.44 and its 200-day moving average price is $48.04. The company has a market capitalization of $3.72 billion, a P/E ratio of 21.92 and a beta of 1.15. Chemical Financial Corporation has a 12 month low of $40.93 and a 12 month high of $55.55.
Chemical Financial Corporation (NASDAQ:CHFC) last released its earnings results on Tuesday, July 25th. The bank reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $178.21 million. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. Analysts anticipate that Chemical Financial Corporation will post $2.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.12%. Chemical Financial Corporation’s dividend payout ratio is 49.34%.
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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