Chemical Financial (NASDAQ:CHFC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other research analysts have also issued reports on the company. Boenning Scattergood set a $43.00 price target on Chemical Financial and gave the stock a “sell” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, December 26th. BidaskClub upgraded Chemical Financial from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $62.00 price target on shares of Chemical Financial in a research report on Tuesday, January 9th. Finally, Hilliard Lyons upgraded Chemical Financial from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.57.
Chemical Financial (CHFC) traded down $1.07 during trading hours on Wednesday, reaching $57.42. The company had a trading volume of 257,320 shares, compared to its average volume of 315,084. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. Chemical Financial has a twelve month low of $43.61 and a twelve month high of $59.83. The firm has a market cap of $4,090.00, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.67 and a beta of 1.22.
Chemical Financial (NASDAQ:CHFC) last announced 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 return on equity of 8.46% and a net margin of 19.26%. The company had revenue of $178.22 million during the quarter, compared to analyst estimates of $183.89 million. sell-side analysts forecast that Chemical Financial will post 3.91 EPS for the current fiscal year.
In other news, VP Dennis L. Klaeser sold 53,536 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $58.48, for a total value of $3,130,785.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lori A. Gwizdala sold 5,594 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $59.27, for a total value of $331,556.38. The disclosure for this sale can be found here. Insiders sold a total of 67,236 shares of company stock worth $3,933,758 in the last three months. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CHFC. Zions Bancorporation bought a new stake in shares of Chemical Financial in the 3rd quarter worth $121,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Chemical Financial by 57.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock worth $202,000 after buying an additional 1,380 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Chemical Financial by 99.2% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock worth $218,000 after buying an additional 2,074 shares in the last quarter. Zeke Capital Advisors LLC bought a new stake in shares of Chemical Financial in the 4th quarter worth $236,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Chemical Financial by 113.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock worth $240,000 after buying an additional 2,448 shares in the last quarter. 80.08% of the stock is currently owned by institutional investors.
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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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