ValuEngine lowered shares of Chemical Financial (NASDAQ:CHFC) from a buy rating to a hold rating in a report published on Wednesday morning.
A number of other equities research analysts also recently weighed in on CHFC. Zacks Investment Research downgraded Chemical Financial from a buy rating to a hold rating in a report on Tuesday, November 21st. Keefe, Bruyette & Woods reiterated a hold rating and issued a $63.00 target price on shares of Chemical Financial in a report on Tuesday, February 27th. BidaskClub downgraded Chemical Financial from a hold rating to a sell rating in a report on Thursday, January 4th. DA Davidson boosted their price objective on Chemical Financial to $70.00 and gave the company an average rating in a report on Thursday, January 25th. Finally, Hilliard Lyons upgraded Chemical Financial from a neutral rating to a buy rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $58.57.
Chemical Financial (CHFC) opened at $58.26 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4,121.31, a P/E ratio of 27.88, a P/E/G ratio of 1.64 and a beta of 1.22. Chemical Financial has a 12 month low of $43.61 and a 12 month high of $59.83.
Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The company had revenue of $178.22 million for the quarter, compared to analyst estimates of $183.89 million. Chemical Financial had a return on equity of 8.46% and a net margin of 19.26%. analysts predict that Chemical Financial will post 3.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. Chemical Financial’s dividend payout ratio is 53.59%.
In other news, CEO David T. Provost acquired 3,356 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was purchased at an average price of $58.50 per share, for a total transaction of $196,326.00. Following the completion of the acquisition, the chief executive officer now directly owns 96,296 shares in the company, valued at approximately $5,633,316. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Dennis L. Klaeser sold 53,536 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $58.48, for a total value of $3,130,785.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,236 shares of company stock valued at $3,933,758. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHFC. Schroder Investment Management Group grew its holdings in Chemical Financial by 18.3% during the fourth quarter. Schroder Investment Management Group now owns 1,981,132 shares of the bank’s stock worth $105,931,000 after buying an additional 306,595 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in Chemical Financial during the fourth quarter worth $11,526,000. Castine Capital Management LLC purchased a new position in Chemical Financial in the third quarter worth $7,839,000. Franklin Resources Inc. boosted its position in Chemical Financial by 5.8% in the fourth quarter. Franklin Resources Inc. now owns 2,686,176 shares of the bank’s stock worth $143,630,000 after purchasing an additional 146,917 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Chemical Financial by 94.0% in the fourth quarter. Deutsche Bank AG now owns 289,324 shares of the bank’s stock worth $15,468,000 after purchasing an additional 140,155 shares during the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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