Commonwealth Equity Services LLC Reduces Stock Position in Chemung Financial Co. (NASDAQ:CHMG)

Commonwealth Equity Services LLC reduced its holdings in Chemung Financial Co. (NASDAQ:CHMG) by 8.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,742 shares of the bank’s stock after selling 736 shares during the period. Commonwealth Equity Services LLC owned approximately 0.17% of Chemung Financial worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CHMG. Marshall Wace LLP purchased a new position in shares of Chemung Financial in the 1st quarter worth $185,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Chemung Financial by 5,426.7% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,658 shares of the bank’s stock worth $73,000 after purchasing an additional 1,628 shares during the period. Ergoteles LLC purchased a new position in shares of Chemung Financial during the 2nd quarter worth about $665,000. Globeflex Capital L P purchased a new position in shares of Chemung Financial during the 2nd quarter worth about $256,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Chemung Financial by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 81,500 shares of the bank’s stock worth $3,611,000 after purchasing an additional 10,073 shares during the period. 36.28% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut shares of Chemung Financial from a “buy” rating to a “hold” rating in a research note on Monday, December 27th.

NASDAQ CHMG opened at $46.09 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. The firm has a market cap of $214.96 million, a PE ratio of 8.58 and a beta of 0.05. The company has a 50 day moving average price of $45.92 and a 200 day moving average price of $45.58. Chemung Financial Co. has a 52 week low of $33.33 and a 52 week high of $49.50.

Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings data on Wednesday, October 20th. The bank reported $1.42 EPS for the quarter, topping the consensus estimate of $1.19 by $0.23. The firm had revenue of $22.80 million during the quarter, compared to analyst estimates of $21.44 million. Chemung Financial had a net margin of 27.18% and a return on equity of 12.53%. On average, equities research analysts anticipate that Chemung Financial Co. will post 5.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Monday, December 20th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Friday, December 17th. Chemung Financial’s dividend payout ratio is presently 23.09%.

Chemung Financial Company Profile

Chemung Financial Corp. operates as a holding company. It operates through following segments: Core Banking and Wealth Management Services (WMG). The Core Banking segment attracts deposits from the general public and using such funds to originate consumer, commercial, commercial real estate, and residential mortgage loans, primarily in the local markets of the firm and to invest in securities.

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Institutional Ownership by Quarter for Chemung Financial (NASDAQ:CHMG)

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