Equities research analysts predict that Chemical Financial Co. (NASDAQ:CHFC) will post earnings of $0.83 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Chemical Financial’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.84. Chemical Financial reported earnings of $0.70 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, January 23rd.
According to Zacks, analysts expect that Chemical Financial will report full-year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.80 to $3.04. For the next year, analysts forecast that the firm will post earnings of $3.76 per share, with EPS estimates ranging from $3.52 to $4.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $175.75 million during the quarter, compared to analyst estimates of $182.78 million. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS.
CHFC has been the subject of a number of recent research reports. Zacks Investment Research raised Chemical Financial from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and set a $55.00 price objective on shares of Chemical Financial in a report on Friday, October 27th. BidaskClub lowered Chemical Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. ValuEngine raised Chemical Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods lowered Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.57.
In other news, Director Larry D. Stauffer sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $53.19, for a total value of $101,061.00. Following the completion of the transaction, the director now directly owns 15,853 shares of the company’s stock, valued at $843,221.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gregory R. Bixby sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total value of $199,675.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,619 shares of company stock valued at $755,964. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in Chemical Financial in the third quarter valued at approximately $246,000. Public Employees Retirement System of Ohio lifted its stake in Chemical Financial by 18.6% in the third quarter. Public Employees Retirement System of Ohio now owns 46,799 shares of the bank’s stock valued at $2,446,000 after purchasing an additional 7,329 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Chemical Financial by 1.0% in the third quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock valued at $25,165,000 after purchasing an additional 4,836 shares during the last quarter. California Public Employees Retirement System lifted its stake in Chemical Financial by 5.6% in the third quarter. California Public Employees Retirement System now owns 160,774 shares of the bank’s stock valued at $8,402,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Chemical Financial by 113.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock valued at $240,000 after purchasing an additional 2,448 shares during the last quarter. 78.42% of the stock is owned by institutional investors.
Shares of Chemical Financial (NASDAQ:CHFC) traded up $0.38 on Friday, reaching $56.28. The company’s stock had a trading volume of 286,481 shares, compared to its average volume of 356,805. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $3,978.34, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.65 and a beta of 1.15. Chemical Financial has a 1 year low of $43.61 and a 1 year high of $58.17.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 30th. Chemical Financial’s dividend payout ratio is presently 42.75%.
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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.
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