Shares of Chemical Financial Co. (NASDAQ:CHFC) have earned an average recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $55.80.
A number of equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub upgraded shares of Chemical Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Piper Jaffray Companies restated a “buy” rating and issued a $62.00 target price on shares of Chemical Financial in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods lowered shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th.
In related news, insider Gregory R. Bixby sold 3,500 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total transaction of $199,675.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry D. Stauffer sold 1,900 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $53.19, for a total transaction of $101,061.00. Following the sale, the director now owns 15,853 shares in the company, valued at approximately $843,221.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,619 shares of company stock worth $755,964. 2.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its position in Chemical Financial by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock worth $1,911,000 after purchasing an additional 299 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Chemical Financial by 1.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,153 shares of the bank’s stock worth $1,072,000 after purchasing an additional 339 shares during the last quarter. 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 during the last quarter. Ameritas Investment Partners Inc. grew its position in Chemical Financial by 3.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 27,508 shares of the bank’s stock worth $1,332,000 after purchasing an additional 867 shares during the last quarter. Finally, Amalgamated Bank grew its position in Chemical Financial by 9.9% in the 2nd quarter. Amalgamated Bank now owns 10,176 shares of the bank’s stock worth $493,000 after purchasing an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
Shares of Chemical Financial (NASDAQ CHFC) opened at $56.51 on Friday. The stock has a market cap of $4,100.00, a PE ratio of 21.49, a PEG ratio of 1.64 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.
Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $175.75 million for 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 company’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. sell-side analysts forecast that Chemical Financial will post 2.98 earnings per share for the current year.
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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.
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