Chemical Financial Corporation (NASDAQ:CHFC) Director Ronald A. Klein sold 2,619 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $56.75, for a total value of $148,628.25. Following the transaction, the director now owns 9,139 shares in the company, valued at approximately $518,638.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Chemical Financial Corporation (CHFC) traded up $0.13 during midday trading on Thursday, hitting $55.95. The company had a trading volume of 298,100 shares, compared to its average volume of 327,548. The firm has a market cap of $3,972.65, a PE ratio of 18.92, a PEG ratio of 2.07 and a beta of 1.14. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. Chemical Financial Corporation has a 1 year low of $43.61 and a 1 year high of $58.17.
Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $175.75 million during the quarter, compared to analysts’ expectations of $182.78 million. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The firm’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. research analysts forecast that Chemical Financial Corporation will post 2.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, November 30th. Chemical Financial’s payout ratio is currently 42.75%.
Several equities analysts have issued reports on CHFC shares. BidaskClub upgraded Chemical Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded Chemical Financial from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods cut Chemical Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Piper Jaffray Companies restated a “buy” rating and issued a $55.00 price objective on shares of Chemical Financial in a research report on Friday, October 27th. Finally, ValuEngine cut Chemical Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Chemical Financial currently has an average rating of “Buy” and a consensus target price of $54.07.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Chemical Financial by 2.9% in the second quarter. BlackRock Inc. now owns 7,327,868 shares of the bank’s stock valued at $354,743,000 after purchasing an additional 206,663 shares during the period. Vanguard Group Inc. increased its holdings in Chemical Financial by 1.8% in the second quarter. Vanguard Group Inc. now owns 6,121,518 shares of the bank’s stock valued at $296,344,000 after buying an additional 107,446 shares during the last quarter. State Street Corp increased its holdings in Chemical Financial by 1.4% in the second quarter. State Street Corp now owns 3,346,155 shares of the bank’s stock valued at $161,989,000 after buying an additional 44,831 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Chemical Financial by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,971,100 shares of the bank’s stock valued at $155,269,000 after buying an additional 44,421 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Chemical Financial by 143.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,279,260 shares of the bank’s stock valued at $119,114,000 after purchasing an additional 1,341,400 shares during the last quarter. 78.44% of the stock is owned by hedge funds and other institutional investors.
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About Chemical Financial
Chemical Financial Corporation is a financial holding company. The Company operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers banking and fiduciary products and services. These products and services include 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, access to insurance and investment products, corporate and personal wealth management services, and other banking services.
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