Chemung Financial Corp (NASDAQ:CHMG) Announces $0.34 Quarterly Dividend

Chemung Financial Corp (NASDAQ:CHMG) announced a quarterly dividend on Thursday, May 21st. Shareholders of record on Wednesday, June 17th will be paid a dividend of 0.34 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, June 17th.

Chemung Financial has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Chemung Financial has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chemung Financial to earn $6.86 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.8%.

Chemung Financial Stock Performance

Shares of CHMG opened at $68.82 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $60.46 and a two-hundred day moving average price of $57.47. The firm has a market capitalization of $331.71 million, a P/E ratio of 18.16 and a beta of 0.59. Chemung Financial has a 52 week low of $43.20 and a 52 week high of $70.83.

Chemung Financial (NASDAQ:CHMG) last released its earnings results on Friday, April 17th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.28. The company had revenue of $29.90 million during the quarter, compared to analyst estimates of $29.21 million. Chemung Financial had a return on equity of 12.45% and a net margin of 12.77%. Equities analysts forecast that Chemung Financial will post 6.75 earnings per share for the current fiscal year.

About Chemung Financial

Chemung Financial Corporation serves as the bank holding company for Chemung Canal Trust Company, a community bank founded in 1833 and headquartered in Elmira, New York. With deep historical roots in the Southern Tier of New York, the company has expanded its footprint to serve customers throughout the region, including northern Pennsylvania. Chemung Financial emphasizes relationship-driven banking by combining personalized service with modern delivery channels.

Through its subsidiary, Chemung Canal Trust Company, Chemung Financial offers a comprehensive suite of financial products and services.