Chemical Financial Co. (CHFC) Given Consensus Recommendation of “Hold” by Brokerages
Chemical Financial Co. (NASDAQ:CHFC) has received a consensus rating of “Hold” from the ten brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $59.50.
Several equities research analysts recently weighed in on CHFC shares. Zacks Investment Research raised Chemical Financial from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, September 25th. ValuEngine downgraded Chemical Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. BidaskClub downgraded Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Boenning Scattergood raised Chemical Financial from an “under perform” rating to a “neutral” rating in a report on Thursday, October 25th. Finally, Raymond James reaffirmed a “buy” rating and set a $53.00 price target on shares of Chemical Financial in a report on Thursday, October 25th.
Shares of CHFC traded up $0.32 during mid-day trading on Friday, reaching $40.84. 9,843 shares of the company’s stock were exchanged, compared to its average volume of 511,469. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.89 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32. Chemical Financial has a 52-week low of $34.62 and a 52-week high of $59.83.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 21st. Shareholders of record on Friday, December 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, December 6th. Chemical Financial’s dividend payout ratio (DPR) is currently 44.44%.
A number of institutional investors have recently added to or reduced their stakes in CHFC. Retirement Systems of Alabama increased its position in Chemical Financial by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 92,633 shares of the bank’s stock worth $3,391,000 after purchasing an additional 363 shares in the last quarter. Vanguard Group Inc grew its holdings in Chemical Financial by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 6,679,182 shares of the bank’s stock valued at $356,668,000 after buying an additional 101,931 shares during the period. Federated Investors Inc. PA grew its holdings in Chemical Financial by 5.9% in the 3rd quarter. Federated Investors Inc. PA now owns 373,944 shares of the bank’s stock valued at $19,969,000 after buying an additional 20,886 shares during the period. Marshall Wace North America L.P. purchased a new stake in Chemical Financial in the 3rd quarter valued at about $724,000. Finally, Marshall Wace LLP purchased a new stake in Chemical Financial in the 3rd quarter valued at about $2,684,000. 83.01% of the stock is owned by institutional investors.
Chemical Financial Company Profile
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.
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