Wall Street analysts forecast that Chemical Financial Co. (NASDAQ:CHFC) will announce earnings of $0.99 per share for the current quarter, Zacks reports. Five analysts have made estimates for Chemical Financial’s earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $1.02. Chemical Financial posted earnings of $0.87 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, January 22nd.
According to Zacks, analysts expect that Chemical Financial will report full year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.89 to $3.95. For the next financial year, analysts forecast that the company will report earnings of $4.22 per share, with EPS estimates ranging from $4.10 to $4.41. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $197.40 million for the quarter, compared to analyst estimates of $200.16 million. Chemical Financial had a return on equity of 9.98% and a net margin of 24.78%. During the same period in the previous year, the company posted $0.79 earnings per share.
CHFC has been the topic of a number of recent analyst reports. BidaskClub downgraded Chemical Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research raised Chemical Financial from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, September 25th. ValuEngine downgraded Chemical Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Boenning Scattergood raised Chemical Financial from an “under perform” rating to a “neutral” rating in a research report on Thursday, October 25th. Finally, Raymond James reaffirmed a “buy” rating and set a $53.00 price target on shares of Chemical Financial in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $59.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHFC. Belpointe Asset Management LLC acquired a new position in shares of Chemical Financial in the 3rd quarter valued at $125,000. Polaris Greystone Financial Group LLC acquired a new position in shares of Chemical Financial in the 3rd quarter valued at $194,000. Verition Fund Management LLC acquired a new position in shares of Chemical Financial in the 3rd quarter valued at $222,000. Nomura Holdings Inc. acquired a new position in shares of Chemical Financial in the 2nd quarter valued at $237,000. Finally, IFP Advisors Inc increased its position 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 acquiring an additional 3,319 shares during the period. 83.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CHFC stock traded down $0.53 during trading hours on Friday, reaching $43.84. 668,200 shares of the company’s stock were exchanged, compared to its average volume of 314,113. The company has a market cap of $3.17 billion, a PE ratio of 14.33, a PEG ratio of 1.26 and a beta of 1.12. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Chemical Financial has a fifty-two week low of $41.52 and a fifty-two week high of $59.83.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, December 6th. Chemical Financial’s payout ratio is 44.44%.
Chemical Financial 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.
Further Reading: Debt-To-Equity Ratio
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