Chemung Financial Co. (NASDAQ:CHMG) Director Robert H. Dalrymple Sells 4,300 Shares

Chemung Financial Co. (NASDAQ:CHMG) Director Robert H. Dalrymple sold 4,300 shares of the stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $44.63, for a total transaction of $191,909.00. Following the transaction, the director now directly owns 766 shares of the company’s stock, valued at $34,186.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ CHMG opened at $43.00 on Friday. The stock has a market capitalization of $200.51 million, a PE ratio of 8.79 and a beta of 0.11. Chemung Financial Co. has a 52-week low of $24.51 and a 52-week high of $47.43. The business’s 50-day moving average price is $43.85. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.02.

Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings results on Wednesday, April 21st. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.13. The firm had revenue of $21.41 million during the quarter, compared to analysts’ expectations of $21.64 million. Chemung Financial had a net margin of 26.10% and a return on equity of 11.86%. On average, equities research analysts predict that Chemung Financial Co. will post 4.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Thursday, June 17th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, June 16th. This is a boost from Chemung Financial’s previous quarterly dividend of $0.26. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Chemung Financial’s dividend payout ratio (DPR) is 25.94%.

A number of institutional investors have recently modified their holdings of CHMG. Marshall Wace LLP purchased a new position in Chemung Financial in the first quarter valued at about $185,000. BlackRock Inc. increased its holdings in Chemung Financial by 9.9% in the fourth quarter. BlackRock Inc. now owns 194,343 shares of the bank’s stock valued at $6,597,000 after buying an additional 17,430 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Chemung Financial by 13.6% in the fourth quarter. Alliancebernstein L.P. now owns 43,880 shares of the bank’s stock valued at $1,490,000 after buying an additional 5,257 shares in the last quarter. BHZ Capital Management LP increased its holdings in Chemung Financial by 165.3% in the fourth quarter. BHZ Capital Management LP now owns 19,402 shares of the bank’s stock valued at $659,000 after buying an additional 12,088 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Chemung Financial in the fourth quarter valued at about $201,000. 36.32% of the stock is owned by institutional investors.

Chemung Financial Company Profile

Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.

Read More: Outstanding Shares and The Effect on Share Price

Insider Buying and Selling by Quarter for Chemung Financial (NASDAQ:CHMG)

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