Chemical Financial (CHFC) Reaches New 1-Year Low at $41.52

Shares of Chemical Financial Co. (NASDAQ:CHFC) reached a new 52-week low during trading on Thursday . The stock traded as low as $41.52 and last traded at $43.87, with a volume of 14405 shares trading hands. The stock had previously closed at $44.37.

Several analysts have commented on CHFC shares. ValuEngine cut Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. Zacks Investment Research cut Chemical Financial from a “hold” rating to a “sell” rating in a report on Friday, October 26th. BidaskClub cut Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Raymond James restated a “buy” rating and issued a $53.00 price target on shares of Chemical Financial in a report on Thursday, October 25th. Finally, Boenning Scattergood upgraded Chemical Financial from an “under perform” rating to a “neutral” rating in a report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $59.00.

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $3.17 billion, a P/E ratio of 14.33, a PEG ratio of 1.26 and a beta of 1.12.

Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). The business had revenue of $197.40 million during the quarter, compared to analysts’ expectations of $200.16 million. Chemical Financial had a net margin of 24.78% and a return on equity of 9.98%. During the same quarter last year, the firm earned $0.79 EPS. On average, analysts forecast that Chemical Financial Co. will post 3.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders 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 dividend yield of 3.10%. The ex-dividend date is Thursday, December 6th. Chemical Financial’s payout ratio is currently 44.44%.

Several large investors have recently modified their holdings of CHFC. Wells Fargo & Company MN grew its holdings in shares of Chemical Financial by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 180,495 shares of the bank’s stock worth $10,047,000 after purchasing an additional 21,193 shares during the period. First Trust Advisors LP grew its holdings in shares of Chemical Financial by 7.2% during the 2nd quarter. First Trust Advisors LP now owns 198,544 shares of the bank’s stock worth $11,053,000 after purchasing an additional 13,334 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Chemical Financial during the 2nd quarter worth about $1,072,000. Sei Investments Co. grew its holdings in shares of Chemical Financial by 7.0% during the 2nd quarter. Sei Investments Co. now owns 233,589 shares of the bank’s stock worth $13,004,000 after purchasing an additional 15,231 shares during the period. Finally, Strs Ohio grew its holdings in shares of Chemical Financial by 9.5% during the 2nd quarter. Strs Ohio now owns 10,400 shares of the bank’s stock worth $578,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 83.06% of the company’s stock.

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About Chemical Financial (NASDAQ:CHFC)

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.

Further Reading: What does cost of debt say about a company’s financial health?

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