Analysts expect that Chemical Financial Co. (NASDAQ:CHFC) will post sales of $185.62 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Chemical Financial’s earnings, with the lowest sales estimate coming in at $180.67 million and the highest estimate coming in at $190.80 million. Chemical Financial posted sales of $168.11 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The business is scheduled to report its next earnings report on Tuesday, April 24th.
On average, analysts expect that Chemical Financial will report full year sales of $185.62 million for the current year, with estimates ranging from $748.84 million to $784.20 million. For the next financial year, analysts forecast that the firm will post sales of $822.91 million per share, with estimates ranging from $793.75 million to $847.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The business had revenue of $178.22 million for the quarter, compared to analyst estimates of $183.89 million. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%.
A number of equities analysts have recently commented on CHFC shares. Keefe, Bruyette & Woods lowered shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Boenning Scattergood reaffirmed a “sell” rating on shares of Chemical Financial in a research report on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $55.00 target price on shares of Chemical Financial in a research report on Friday, October 27th. ValuEngine lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $57.29.
Shares of Chemical Financial (NASDAQ:CHFC) traded down $0.05 during trading hours on Friday, hitting $57.11. 260,572 shares of the stock were exchanged, compared to its average volume of 323,942. The stock has a market capitalization of $4,122.57, a price-to-earnings ratio of 27.35, a PEG ratio of 1.64 and a beta of 1.21. Chemical Financial has a fifty-two week low of $43.61 and a fifty-two week high of $59.83. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 1st. Chemical Financial’s payout ratio is 53.59%.
In related news, insider Gregory R. Bixby sold 3,500 shares of Chemical Financial stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total transaction of $199,675.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David T. Provost bought 3,356 shares of the stock in a transaction on Friday, January 26th. The stock was purchased at an average price of $58.50 per share, with a total value of $196,326.00. Following the completion of the purchase, 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. Over the last three months, insiders have sold 73,355 shares of company stock worth $4,282,061. 2.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Zions Bancorporation acquired a new stake in Chemical Financial in the third quarter valued at approximately $121,000. PNC Financial Services Group Inc. boosted 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 valued at $177,000 after acquiring an additional 2,525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chemical Financial by 57.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock valued at $202,000 after acquiring an additional 1,380 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Chemical Financial by 99.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock valued at $218,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in Chemical Financial in the second quarter valued at approximately $205,000. Institutional investors own 79.58% of the company’s stock.
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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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