Flinton Capital Management LLC grew its position in shares of Chemical Financial Co. (NASDAQ:CHFC) by 36.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,624 shares of the bank’s stock after buying an additional 2,324 shares during the period. Flinton Capital Management LLC’s holdings in Chemical Financial were worth $461,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its holdings in shares of Chemical Financial by 18.3% in the 4th quarter. Schroder Investment Management Group now owns 1,981,132 shares of the bank’s stock worth $105,931,000 after purchasing an additional 306,595 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of Chemical Financial in the 4th quarter worth approximately $11,526,000. Castine Capital Management LLC bought a new stake in shares of Chemical Financial in the 3rd quarter worth approximately $7,839,000. Franklin Resources Inc. lifted its holdings in shares of Chemical Financial by 5.8% in the 4th 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 lifted its holdings in shares of Chemical Financial by 94.0% in the 4th 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. 80.05% of the stock is currently owned by institutional investors.
In other news, VP Dennis L. Klaeser sold 53,536 shares of Chemical Financial stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $58.48, for a total transaction of $3,130,785.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Lievense sold 6,298 shares of Chemical Financial stock in a transaction on Friday, January 26th. The shares were sold at an average price of $57.92, for a total value of $364,780.16. Following the transaction, the director now owns 28,669 shares in the company, valued at $1,660,508.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,236 shares of company stock worth $3,933,758. 2.20% of the stock is owned by insiders.
Several analysts recently issued reports on the company. DA Davidson raised their price target on Chemical Financial to $70.00 and gave the stock an “average” rating in a report on Thursday, January 25th. Hilliard Lyons raised Chemical Financial from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. ValuEngine raised Chemical Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $63.00 price target on shares of Chemical Financial in a report on Tuesday, February 27th. Finally, BidaskClub raised Chemical Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.57.
Shares of Chemical Financial stock opened at $57.52 on Thursday. Chemical Financial Co. has a 1 year low of $43.61 and a 1 year high of $59.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $4,092.79, a P/E ratio of 27.52, a P/E/G ratio of 1.63 and a beta of 1.22.
Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. Chemical Financial had a return on equity of 8.46% and a net margin of 19.26%. The firm had revenue of $178.22 million for the quarter, compared to analysts’ expectations of $183.89 million. equities analysts anticipate that Chemical Financial Co. will post 3.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 1st. Chemical Financial’s dividend payout ratio is currently 53.59%.
Chemical Financial 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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