Chemical Financial Corporation (CHFC) Director Sells $100,161.70 in Stock
Chemical Financial Corporation (NASDAQ:CHFC) Director Larry D. Stauffer sold 2,110 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now directly owns 13,246 shares of the company’s stock, valued at $628,787.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Chemical Financial Corporation (CHFC) traded down 2.94% during mid-day trading on Thursday, reaching $45.49. The company’s stock had a trading volume of 327,244 shares. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 19.07 and a beta of 1.12. The stock’s 50 day moving average is $48.18 and its 200 day moving average is $49.12. Chemical Financial Corporation has a 12 month low of $40.93 and a 12 month high of $55.55.
Chemical Financial Corporation (NASDAQ:CHFC) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. The business had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $178.21 million. Equities research analysts predict that Chemical Financial Corporation will post $2.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Chemical Financial Corporation’s previous quarterly dividend of $0.27. Chemical Financial Corporation’s payout ratio is 47.58%.
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Several institutional investors have recently added to or reduced their stakes in CHFC. Northwestern Mutual Investment Management Company LLC boosted its position in Chemical Financial Corporation by 0.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 12,247 shares of the bank’s stock valued at $626,000 after buying an additional 89 shares during the period. Teacher Retirement System of Texas boosted its position in Chemical Financial Corporation by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 5,722 shares of the bank’s stock valued at $277,000 after buying an additional 117 shares during the period. World Asset Management Inc boosted its position in Chemical Financial Corporation by 3.0% in the first quarter. World Asset Management Inc now owns 4,340 shares of the bank’s stock valued at $222,000 after buying an additional 127 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Chemical Financial Corporation by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,846 shares of the bank’s stock valued at $1,629,000 after buying an additional 130 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Chemical Financial Corporation by 4.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,892 shares of the bank’s stock valued at $148,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 79.19% of the company’s stock.
A number of brokerages have weighed in on CHFC. ValuEngine downgraded shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods restated a “buy” rating and set a $54.00 price objective on shares of Chemical Financial Corporation in a report on Thursday, August 10th. BidaskClub downgraded Chemical Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Stephens restated a “buy” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. Finally, Boenning Scattergood restated a “hold” rating on shares of Chemical Financial Corporation in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.17.
Chemical Financial Corporation Company 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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