Russell Investments Group Ltd. raised its position in shares of Chemical Financial Corporation (NASDAQ:CHFC) by 37.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,262 shares of the bank’s stock after buying an additional 17,622 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Chemical Financial worth $3,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Chemical Financial by 8.4% during the third quarter. Rhumbline Advisers now owns 165,984 shares of the bank’s stock worth $8,674,000 after buying an additional 12,821 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Chemical Financial by 10.2% during the third quarter. New York State Common Retirement Fund now owns 194,115 shares of the bank’s stock worth $10,144,000 after buying an additional 17,955 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Chemical Financial by 10.6% during the third quarter. Sei Investments Co. now owns 22,483 shares of the bank’s stock worth $1,175,000 after buying an additional 2,154 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Chemical Financial by 2.9% during the third quarter. BNP Paribas Arbitrage SA now owns 36,680 shares of the bank’s stock worth $1,917,000 after buying an additional 1,050 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new stake in shares of Chemical Financial during the third quarter worth approximately $313,000. 78.44% of the stock is owned by institutional investors.

In other Chemical Financial news, insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $54.50, for a total value of $152,600.00. Following the transaction, the insider now directly owns 49,574 shares of the company’s stock, valued at $2,701,783. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gregory R. Bixby sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total transaction of $199,675.00. The disclosure for this sale can be found here. In the last three months, insiders sold 13,619 shares of company stock valued at $755,964. 2.20% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on CHFC shares. BidaskClub raised shares of Chemical Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Boenning Scattergood lowered shares of Chemical Financial from a “neutral” rating to an “under perform” rating and set a $41.50 price target for the company. in a report on Tuesday, September 19th. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, October 10th. Keefe, Bruyette & Woods lowered shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $55.00 price target on shares of Chemical Financial in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $54.07.

Shares of Chemical Financial Corporation (NASDAQ:CHFC) opened at $55.37 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3,833.16, a P/E ratio of 18.26, a P/E/G ratio of 2.00 and a beta of 1.14. Chemical Financial Corporation has a fifty-two week low of $43.61 and a fifty-two week high of $58.17.

Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $175.75 million during the quarter, compared to analyst estimates of $182.78 million. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. Chemical Financial’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. research analysts expect that Chemical Financial Corporation will post 2.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, November 30th. Chemical Financial’s dividend payout ratio is currently 42.75%.

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About Chemical Financial

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

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