Chemical Financial Co. (NASDAQ:CHFC) – Equities research analysts at Boenning Scattergood raised their Q3 2018 earnings per share (EPS) estimates for Chemical Financial in a research report issued to clients and investors on Wednesday, October 10th. Boenning Scattergood analyst S. Beury now forecasts that the bank will earn $0.99 per share for the quarter, up from their prior estimate of $0.94. Boenning Scattergood also issued estimates for Chemical Financial’s Q4 2018 earnings at $1.01 EPS.
A number of other research analysts have also issued reports on CHFC. BidaskClub lowered shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Tuesday, September 25th. ValuEngine lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Sandler O’Neill lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.20.
CHFC opened at $49.16 on Thursday. Chemical Financial has a 1-year low of $48.17 and a 1-year high of $59.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $3.81 billion, a PE ratio of 16.07, a P/E/G ratio of 1.49 and a beta of 1.06.
Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Chemical Financial had a net margin of 22.38% and a return on equity of 9.59%. The company had revenue of $195.56 million for the quarter, compared to the consensus estimate of $195.58 million.
Large investors have recently modified their holdings of the stock. Nomura Holdings Inc. purchased a new position in shares of Chemical Financial in the 2nd quarter worth about $237,000. Stifel Financial Corp boosted its holdings in shares of Chemical Financial by 45.1% in the 1st quarter. Stifel Financial Corp now owns 6,360 shares of the bank’s stock worth $348,000 after buying an additional 1,977 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Chemical Financial in the 1st quarter worth about $448,000. Capital Fund Management S.A. purchased a new position in shares of Chemical Financial in the 2nd quarter worth about $451,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Chemical Financial by 44.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,395 shares of the bank’s stock worth $514,000 after buying an additional 2,900 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.
The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were issued a $0.34 dividend. This is an increase from Chemical Financial’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 6th. Chemical Financial’s payout ratio is 44.44%.
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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