Chemical Financial (NASDAQ:CHFC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday, March 14th.
Several other brokerages have also weighed in on CHFC. BidaskClub lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Piper Jaffray Companies reissued a “buy” rating and issued a $62.00 price objective on shares of Chemical Financial in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $63.00 price objective on shares of Chemical Financial in a research report on Tuesday, February 27th. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, December 26th. Finally, DA Davidson increased their price objective on shares of Chemical Financial to $70.00 and gave the company an “average” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Chemical Financial has a consensus rating of “Hold” and an average target price of $58.57.
Shares of Chemical Financial (CHFC) traded up $0.12 on Wednesday, reaching $57.52. 221,883 shares of the company traded hands, compared to its average volume of 321,083. Chemical Financial has a fifty-two week low of $43.61 and a fifty-two week high of $59.83. The firm has a market capitalization of $4,108.48, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.
Chemical Financial (NASDAQ:CHFC) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $178.22 million during the quarter, compared to analysts’ expectations of $183.89 million. equities research analysts predict that Chemical Financial will post 3.91 EPS for the current year.
In other Chemical Financial news, insider Lori A. Gwizdala sold 5,594 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $59.27, for a total transaction of $331,556.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David T. Provost acquired 3,356 shares of Chemical Financial stock in a transaction on Friday, January 26th. The shares were purchased at an average price of $58.50 per share, for a total transaction of $196,326.00. Following the completion of the purchase, the chief executive officer now directly owns 96,296 shares of the company’s stock, valued at $5,633,316. The disclosure for this purchase can be found here. Insiders sold 67,236 shares of company stock worth $3,933,758 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Chemical Financial by 34.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,451 shares of the bank’s stock valued at $345,000 after purchasing an additional 1,640 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of Chemical Financial in the 4th quarter valued at approximately $347,000. Envestnet Asset Management Inc. boosted its stake in shares of Chemical Financial by 46.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,069 shares of the bank’s stock valued at $538,000 after purchasing an additional 3,209 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Chemical Financial in the 4th quarter valued at approximately $4,706,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Chemical Financial in the 4th quarter valued at approximately $4,178,000. Institutional investors own 80.05% of the company’s stock.
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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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