Chemical Financial Co. (NASDAQ:CHFC) – Investment analysts at FIG Partners lowered their FY2018 earnings per share estimates for shares of Chemical Financial in a research report issued to clients and investors on Monday, October 29th. FIG Partners analyst J. Rodis now forecasts that the bank will post earnings per share of $3.89 for the year, down from their prior forecast of $3.92. FIG Partners also issued estimates for Chemical Financial’s Q4 2018 earnings at $0.98 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $1.04 EPS, Q3 2019 earnings at $1.06 EPS and FY2019 earnings at $4.15 EPS.
Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). Chemical Financial had a return on equity of 9.98% and a net margin of 24.78%. The company had revenue of $197.40 million during the quarter, compared to the consensus estimate of $200.16 million. During the same quarter last year, the firm earned $0.79 EPS.
A number of other analysts have also commented on CHFC. BidaskClub lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a report on Friday, July 13th. Sandler O’Neill lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a report on Friday, July 27th. ValuEngine lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Boenning Scattergood raised shares of Chemical Financial from an “under perform” rating to a “neutral” rating in a report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Chemical Financial presently has an average rating of “Hold” and a consensus price target of $59.00.
CHFC opened at $46.61 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.91. Chemical Financial has a 52 week low of $41.97 and a 52 week high of $59.83. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Polaris Greystone Financial Group LLC acquired a new stake in Chemical Financial during the 3rd quarter worth $194,000. Nomura Holdings Inc. acquired a new position in shares of Chemical Financial in the 2nd quarter valued at $237,000. IFP Advisors Inc grew its holdings in shares of Chemical Financial by 223.7% in the 3rd quarter. IFP Advisors Inc now owns 4,803 shares of the bank’s stock valued at $256,000 after buying an additional 3,319 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Chemical Financial by 43.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 5,159 shares of the bank’s stock valued at $613,000 after buying an additional 1,552 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Chemical Financial by 45.1% in the 1st quarter. Stifel Financial Corp now owns 6,360 shares of the bank’s stock valued at $348,000 after buying an additional 1,977 shares during the period. 83.28% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, December 6th. Chemical Financial’s dividend payout ratio is presently 44.44%.
About Chemical Financial
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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