Chemical Financial (CHFC) Rating Reiterated by Piper Jaffray Companies

Chemical Financial (NASDAQ:CHFC)‘s stock had its “buy” rating reaffirmed by Piper Jaffray Companies in a note issued to investors on Tuesday, January 9th. They presently have a $62.00 target price on the bank’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 6.73% from the stock’s previous close.

CHFC has been the topic of a number of other reports. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, October 10th. BidaskClub raised shares of Chemical Financial from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 6th. ValuEngine cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Boenning Scattergood reaffirmed a “sell” rating on shares of Chemical Financial in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods lowered shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.29.

Shares of Chemical Financial (NASDAQ CHFC) opened at $58.09 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4,211.18, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. Chemical Financial has a 1 year low of $43.61 and a 1 year high of $59.83.

Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. The company had revenue of $178.22 million during the quarter, compared to the consensus estimate of $183.89 million. sell-side analysts anticipate that Chemical Financial will post 3.88 EPS for the current fiscal year.

In other news, insider Lori A. Gwizdala sold 1,808 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $58.98, for a total transaction of $106,635.84. Following the completion of the sale, the insider now directly owns 50,560 shares of the company’s stock, valued at $2,982,028.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David T. Provost bought 3,356 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were acquired at an average cost of $58.50 per share, with a total value of $196,326.00. Following the completion of the transaction, the chief executive officer now owns 96,296 shares of the company’s stock, valued at $5,633,316. The disclosure for this purchase can be found here. Insiders have sold 22,619 shares of company stock worth $1,305,276 in the last quarter. Company insiders own 2.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CHFC. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Chemical Financial by 19.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock worth $116,000 after purchasing an additional 389 shares in the last quarter. Zions Bancorporation bought a new stake in Chemical Financial in the 3rd quarter worth about $121,000. PNC Financial Services Group Inc. grew its position in Chemical Financial by 220.5% in the 2nd 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 in the last quarter. Riverhead Capital Management LLC grew its position in Chemical Financial by 59.5% in the 2nd 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 in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Chemical Financial during the 2nd quarter valued at approximately $205,000. 78.57% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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