Wall Street brokerages expect that Chemical Financial Corporation (NASDAQ:CHFC) will report earnings per share (EPS) of $0.82 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Chemical Financial Corporation’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.84. Chemical Financial Corporation reported earnings per share of $0.70 during the same quarter last year, which suggests a positive year over year growth rate of 17.1%. The business is expected to issue its next earnings report on Wednesday, January 24th.
On average, analysts expect that Chemical Financial Corporation will report full-year earnings of $2.98 per share for the current year, with EPS estimates ranging from $2.80 to $3.05. For the next year, analysts anticipate that the business will post earnings of $3.54 per share, with EPS estimates ranging from $3.26 to $3.76. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Chemical Financial Corporation.
Chemical Financial Corporation (NASDAQ:CHFC) last announced its earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Chemical Financial Corporation had a net margin of 24.23% and a return on equity of 8.05%. The company had revenue of $175.75 million during the quarter, compared to analysts’ expectations of $182.78 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. Chemical Financial Corporation’s quarterly revenue was up 41.1% on a year-over-year basis.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Piper Jaffray Companies restated a “buy” rating and set a $55.00 price target on shares of Chemical Financial Corporation in a report on Friday, October 27th. Boenning Scattergood reiterated a “sell” rating on shares of Chemical Financial Corporation in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods lowered Chemical Financial Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Chemical Financial Corporation has a consensus rating of “Hold” and a consensus price target of $54.07.
Chemical Financial Corporation (CHFC) traded up $0.71 on Wednesday, reaching $54.82. 316,300 shares of the company traded hands, compared to its average volume of 327,784. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market capitalization of $3,880.00, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. Chemical Financial Corporation has a 1-year low of $43.61 and a 1-year high of $55.55.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.04%. Chemical Financial Corporation’s dividend payout ratio (DPR) is presently 42.59%.
In related news, Director Larry D. Stauffer sold 1,900 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $53.19, for a total transaction of $101,061.00. Following the completion of the sale, the director now owns 15,853 shares in the company, valued at $843,221.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lori A. Gwizdala sold 2,800 shares of the company’s stock in a transaction 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 sale, the insider now owns 49,574 shares of the company’s stock, valued at approximately $2,701,783. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of Chemical Financial Corporation by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 870,782 shares of the bank’s stock worth $42,153,000 after purchasing an additional 13,044 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Chemical Financial Corporation by 141.7% in the second quarter. Prudential Financial Inc. now owns 114,197 shares of the bank’s stock worth $5,528,000 after buying an additional 66,940 shares during the period. Chatham Capital Group Inc. increased its holdings in Chemical Financial Corporation by 8.2% during the 2nd quarter. Chatham Capital Group Inc. now owns 30,815 shares of the bank’s stock worth $1,492,000 after purchasing an additional 2,335 shares during the period. Strs Ohio boosted its position in shares of Chemical Financial Corporation by 6.0% in the 2nd quarter. Strs Ohio now owns 8,900 shares of the bank’s stock worth $430,000 after purchasing an additional 500 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Chemical Financial Corporation by 91.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,630 shares of the bank’s stock worth $1,725,000 after purchasing an additional 17,034 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.
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About Chemical Financial Corporation
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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