Chemical Financial Co. (NASDAQ:CHFC) Director Richard M. Lievense sold 6,298 shares of Chemical Financial stock in a transaction on Friday, January 26th. The shares were sold at an average price of $57.92, for a total transaction of $364,780.16. Following the completion of the sale, the director now directly owns 28,669 shares in the company, valued at approximately $1,660,508.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Chemical Financial Co. (CHFC) opened at $55.13 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $3,933.62, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21. Chemical Financial Co. has a one year low of $43.61 and a one year high of $59.83.
Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $183.89 million. sell-side analysts anticipate that Chemical Financial Co. will post 3.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 1st. Chemical Financial’s dividend payout ratio is presently 53.59%.
CHFC has been the topic of several recent research reports. Boenning Scattergood set a $43.00 target price on shares of Chemical Financial and gave the stock a “sell” rating in a research note on Tuesday, January 2nd. BidaskClub raised shares of Chemical Financial from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, December 26th. Piper Jaffray Companies reissued a “buy” rating and set a $62.00 price target on shares of Chemical Financial in a research report on Tuesday, January 9th. Finally, ValuEngine cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One equities research 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’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.29.
Several institutional investors have recently made changes to their positions in CHFC. Riverhead Capital Management LLC grew its position in shares of Chemical Financial by 59.5% during the second quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock worth $185,000 after buying an additional 1,427 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Chemical Financial by 19.8% in the second quarter. TIAA CREF Investment Management LLC now owns 331,718 shares of the bank’s stock valued at $16,058,000 after purchasing an additional 54,921 shares in the last quarter. BlackRock Inc. boosted its holdings in Chemical Financial by 2.9% in the second quarter. BlackRock Inc. now owns 7,327,868 shares of the bank’s stock valued at $354,743,000 after purchasing an additional 206,663 shares in the last quarter. Amalgamated Bank boosted its holdings in Chemical Financial by 9.9% in the second quarter. Amalgamated Bank now owns 10,176 shares of the bank’s stock valued at $493,000 after purchasing an additional 920 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 valued at $177,000 after purchasing an additional 2,525 shares in the last quarter. 78.37% 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.
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