Chemical Financial (CHFC) Stock Rating Lowered by BidaskClub

Chemical Financial (NASDAQ:CHFC) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

CHFC has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, October 10th. ValuEngine downgraded shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Boenning Scattergood reiterated a “sell” rating on shares of Chemical Financial in a research note on Thursday, October 26th. Keefe, Bruyette & Woods downgraded shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $55.00 price objective on shares of Chemical Financial in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $54.07.

Chemical Financial (NASDAQ CHFC) opened at $53.97 on Tuesday. Chemical Financial has a 12 month low of $43.61 and a 12 month high of $58.17. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3,880.84, a P/E ratio of 18.49, a P/E/G ratio of 2.03 and a beta of 1.14.

Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. The company had revenue of $175.75 million during the quarter, compared to the consensus estimate of $182.78 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. equities research analysts forecast that Chemical Financial will post 2.99 EPS for the current fiscal year.

In other news, Director Larry D. Stauffer sold 1,900 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $53.19, for a total transaction of $101,061.00. Following the completion of the sale, the director now owns 15,853 shares in the company, valued at approximately $843,221.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald A. Klein sold 2,619 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $56.75, for a total transaction of $148,628.25. Following the sale, the director now owns 9,139 shares of the company’s stock, valued at approximately $518,638.25. The disclosure for this sale can be found here. Insiders have sold a total of 13,619 shares of company stock valued at $755,964 in the last 90 days. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CHFC. Vaughan Nelson Investment Management L.P. raised its position in Chemical Financial by 143.0% in the 3rd 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. Koch Industries Inc. purchased a new stake in Chemical Financial in the 2nd quarter valued at $515,000. Schroder Investment Management Group raised its position in Chemical Financial by 24.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,575,071 shares of the bank’s stock valued at $76,407,000 after purchasing an additional 305,958 shares during the last quarter. BlackRock Inc. raised its position in Chemical Financial by 2.9% in the 2nd 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 last quarter. Finally, Castine Capital Management LLC purchased a new stake in Chemical Financial in the 3rd quarter valued at $7,839,000. Hedge funds and other institutional investors own 78.44% of the company’s stock.

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Chemical Financial Company Profile

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.

Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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