Brokerages expect Chemical Financial Co. (NASDAQ:CHFC) to report $0.83 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Chemical Financial’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.79. Chemical Financial posted earnings of $0.70 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, January 23rd.
On average, analysts expect that Chemical Financial will report full-year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.80 to $3.04. For the next year, analysts expect that the business will post earnings of $3.76 per share, with EPS estimates ranging from $3.52 to $4.00. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm 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%. The business’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS.
Several research analysts recently issued reports on the stock. Boenning Scattergood lowered shares of Chemical Financial from a “neutral” rating to an “under perform” rating and set a $41.50 target price for the company. in a research report on Tuesday, September 19th. Zacks Investment Research upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, December 26th. BidaskClub upgraded shares of Chemical Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $55.00 target price on shares of Chemical Financial in a research report on Friday, October 27th. Finally, ValuEngine upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.57.
Chemical Financial (CHFC) traded down $0.54 on Friday, hitting $55.74. 309,788 shares of the stock were exchanged, compared to its average volume of 338,740. The stock has a market cap of $3,970.00, a price-to-earnings ratio of 21.19, a P/E/G 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 12-month low of $43.61 and a 12-month high of $58.17.
In related news, Director Larry D. Stauffer sold 1,900 shares of the company’s stock in a transaction on Monday, October 30th. The shares were 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 directly owns 15,853 shares in the company, valued at $843,221.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lori A. Gwizdala sold 2,800 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $54.50, for a total transaction of $152,600.00. Following the completion of the sale, the insider now directly owns 49,574 shares of the company’s stock, valued at $2,701,783. The disclosure for this sale can be found here. Insiders sold 13,619 shares of company stock valued at $755,964 over the last quarter. 2.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CHFC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Chemical Financial by 19.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock worth $116,000 after purchasing an additional 389 shares during the last quarter. Zions Bancorporation bought a new stake in Chemical Financial in the third quarter worth $121,000. PNC Financial Services Group Inc. lifted its stake in Chemical Financial by 220.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock worth $177,000 after purchasing an additional 2,525 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Chemical Financial by 59.5% in the second quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock worth $185,000 after purchasing an additional 1,427 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Chemical Financial in the second quarter worth $205,000. 78.42% of the stock is owned by institutional investors and hedge funds.
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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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