Chemical Financial (CHFC) Downgraded to Hold at ValuEngine
ValuEngine lowered shares of Chemical Financial (NASDAQ:CHFC) from a buy rating to a hold rating in a research note released on Wednesday.
Several other equities analysts have also recently weighed in on CHFC. BidaskClub cut Chemical Financial from a hold rating to a sell rating in a report on Thursday, January 4th. Piper Jaffray Companies restated a buy rating and set a $62.00 price target on shares of Chemical Financial in a report on Tuesday, January 9th. Zacks Investment Research cut Chemical Financial from a buy rating to a hold rating in a report on Tuesday, November 21st. Boenning Scattergood cut 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. Finally, Keefe, Bruyette & Woods cut Chemical Financial from an outperform rating to a market perform rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $55.57.
Chemical Financial (NASDAQ CHFC) traded up $0.38 during midday trading on Wednesday, reaching $56.28. The company’s stock had a trading volume of 286,481 shares, compared to its average volume of 356,805. The stock has a market cap of $4,005.39, a PE ratio of 19.08, a PEG ratio of 1.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. Chemical Financial has a fifty-two week low of $43.61 and a fifty-two week high of $58.17.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders 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 1.99%. The ex-dividend date of this dividend was Thursday, November 30th. Chemical Financial’s dividend payout ratio (DPR) is 42.75%.
In other news, Director Ronald A. Klein sold 2,619 shares of Chemical Financial stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $56.75, for a total value of $148,628.25. Following the completion of the transaction, the director now owns 9,139 shares in the company, valued at approximately $518,638.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Larry D. Stauffer sold 1,900 shares of Chemical Financial stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $53.19, for a total value of $101,061.00. Following the completion of the transaction, the director now owns 15,853 shares of the company’s stock, valued at approximately $843,221.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,619 shares of company stock valued at $755,964. Company insiders own 2.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Chemical Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 7,327,868 shares of the bank’s stock worth $354,743,000 after purchasing an additional 206,663 shares during the period. Vanguard Group Inc. boosted its holdings in Chemical Financial by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,121,518 shares of the bank’s stock valued at $296,344,000 after acquiring an additional 107,446 shares during the period. State Street Corp boosted its holdings in Chemical Financial by 1.4% during the 2nd quarter. State Street Corp now owns 3,346,155 shares of the bank’s stock valued at $161,989,000 after acquiring an additional 44,831 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Chemical Financial by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,971,100 shares of the bank’s stock valued at $155,269,000 after acquiring an additional 44,421 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Chemical Financial by 143.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,279,260 shares of the bank’s stock valued at $119,114,000 after acquiring an additional 1,341,400 shares during the period. Hedge funds and other institutional investors own 78.42% of the company’s stock.
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Chemical Financial 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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