Equities analysts expect that Chemical Financial Co. (NASDAQ:CHFC) will report $0.95 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Chemical Financial’s earnings. The highest EPS estimate is $1.04 and the lowest is $0.89. Chemical Financial posted earnings per share of $0.75 during the same quarter last year, which would suggest a positive year over year growth rate of 26.7%. The business is scheduled to report its next earnings results on Tuesday, July 24th.
On average, analysts expect that Chemical Financial will report full year earnings of $3.91 per share for the current fiscal year, with EPS estimates ranging from $3.82 to $4.09. For the next year, analysts anticipate that the company will report earnings of $4.35 per share, with EPS estimates ranging from $4.25 to $4.57. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last released its earnings results on Tuesday, April 24th. The bank reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $192.42 million during the quarter, compared to analysts’ expectations of $186.62 million. Chemical Financial had a net margin of 21.15% and a return on equity of 9.10%.
A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $63.00 target price on shares of Chemical Financial in a research note on Tuesday, February 27th. Boenning Scattergood reissued a “sell” rating on shares of Chemical Financial in a research note on Thursday, April 26th. Finally, ValuEngine cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. One investment 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 presently has a consensus rating of “Hold” and a consensus price target of $59.17.
In related news, Director Larry D. Stauffer sold 1,800 shares of the company’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $56.18, for a total transaction of $101,124.00. Following the completion of the sale, the director now owns 14,053 shares of the company’s stock, valued at approximately $789,497.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank grew its stake in Chemical Financial by 2.3% during the 4th quarter. Swiss National Bank now owns 121,103 shares of the bank’s stock valued at $6,475,000 after acquiring an additional 2,700 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Chemical Financial during the 4th quarter valued at about $395,000. Raymond James & Associates grew its stake in shares of Chemical Financial by 33.4% in the 4th quarter. Raymond James & Associates now owns 84,479 shares of the bank’s stock valued at $4,517,000 after buying an additional 21,161 shares during the period. Arizona State Retirement System grew its stake in shares of Chemical Financial by 26.9% in the 4th quarter. Arizona State Retirement System now owns 51,226 shares of the bank’s stock valued at $2,739,000 after buying an additional 10,872 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Chemical Financial in the 4th quarter valued at approximately $2,820,000. 82.41% of the stock is owned by institutional investors.
Shares of CHFC stock traded down $1.53 on Tuesday, reaching $55.76. 364,600 shares of the company were exchanged, compared to its average volume of 312,664. The stock has a market capitalization of $4.09 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.63 and a beta of 1.21. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14. Chemical Financial has a 1 year low of $43.61 and a 1 year high of $59.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $1.12 annualized dividend and a yield of 2.01%. Chemical Financial’s dividend payout ratio is presently 36.60%.
Chemical Financial Company Profile
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.
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