Shelton Capital Management acquired a new stake in shares of Chemical Financial Corporation (NASDAQ:CHFC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,278 shares of the bank’s stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CHFC. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Chemical Financial Corporation by 19.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock valued at $116,000 after purchasing an additional 389 shares in the last quarter. Huntington National Bank purchased a new position in Chemical Financial Corporation during the second quarter valued at $152,000. PNC Financial Services Group Inc. lifted its holdings in Chemical Financial Corporation by 220.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock valued at $177,000 after purchasing an additional 2,525 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in Chemical Financial Corporation by 59.5% during the second quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock valued at $185,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Chemical Financial Corporation during the second quarter valued at $205,000. 76.46% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on CHFC shares. BidaskClub raised shares of Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. DA Davidson started coverage on shares of Chemical Financial Corporation in a report on Wednesday, July 5th. They set a “buy” rating and a $58.00 price objective on the stock. Stephens raised shares of Chemical Financial Corporation from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective on the stock in a report on Monday, July 10th. Zacks Investment Research raised shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, Piper Jaffray Companies started coverage on shares of Chemical Financial Corporation in a report on Thursday, July 6th. They set an “overweight” rating and a $56.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.21.

In related news, Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.20, for a total value of $706,563.80. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now owns 13,246 shares in the company, 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 (NASDAQ CHFC) opened at 53.22 on Tuesday. The stock has a 50 day moving average of $49.32 and a 200 day moving average of $48.19. The stock has a market capitalization of $3.79 billion, a P/E ratio of 22.31 and a beta of 1.15. Chemical Financial Corporation has a 1-year low of $40.93 and a 1-year high of $55.55.

Chemical Financial Corporation (NASDAQ:CHFC) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 EPS for the quarter, topping 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 business had revenue of $179.52 million for the quarter, compared to analyst estimates of $178.21 million. On average, analysts expect that Chemical Financial Corporation will post $2.97 earnings per share for the current year.

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Chemical Financial Corporation 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.

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

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