Chemical Bank (NASDAQ:CHFC) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 24th. Analysts expect Chemical Bank to post earnings of $0.91 per share for the quarter.
Chemical Bank (NASDAQ:CHFC) last released its earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. The firm had revenue of $178.22 million for the quarter, compared to analysts’ expectations of $183.89 million. Chemical Bank had a net margin of 19.26% and a return on equity of 8.46%. On average, analysts expect Chemical Bank to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
CHFC opened at $55.49 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 capitalization of $3,933.79, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.56 and a beta of 1.19. Chemical Bank has a twelve month low of $43.61 and a twelve month high of $59.83.
A number of research firms have weighed in on CHFC. DA Davidson boosted their target price on shares of Chemical Bank to $70.00 and gave the company an “average” rating in a research note on Thursday, January 25th. Hilliard Lyons upgraded shares of Chemical Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. ValuEngine upgraded shares of Chemical Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $63.00 target price on shares of Chemical Bank in a research note on Tuesday, February 27th. Finally, BidaskClub upgraded shares of Chemical Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.57.
In related news, VP Dennis L. Klaeser sold 53,536 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $58.48, for a total transaction of $3,130,785.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David T. Provost purchased 3,356 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were acquired 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 in the company, valued at approximately $5,633,316. The disclosure for this purchase can be found here. Insiders have sold a total of 67,236 shares of company stock worth $3,933,758 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
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Chemical Bank Company Profile
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.
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