Chemung Financial Corp (CHMG) to Release Quarterly Earnings on Wednesday
Chemung Financial Corp (NASDAQ:CHMG) will be issuing its quarterly earnings data after the market closes on Wednesday, October 18th. Analysts expect the company to announce earnings of $0.71 per share for the quarter.
Chemung Financial Corp (NASDAQ:CHMG) last issued its earnings results on Friday, July 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $18.97 million during the quarter. Chemung Financial Corp had a return on equity of 7.90% and a net margin of 15.01%. On average, analysts expect Chemung Financial Corp to post $2.83 EPS for the current fiscal year and $3.31 EPS for the next fiscal year.
Chemung Financial Corp (CHMG) opened at 45.17 on Wednesday. The company has a 50-day moving average price of $41.95 and a 200-day moving average price of $40.07. Chemung Financial Corp has a 52 week low of $28.06 and a 52 week high of $48.06. The stock has a market cap of $213.97 million, a price-to-earnings ratio of 18.57 and a beta of 0.22.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 18th were paid a $0.26 dividend. The ex-dividend date was Friday, September 15th. This represents a $1.04 annualized dividend and a yield of 2.30%. Chemung Financial Corp’s dividend payout ratio is presently 42.62%.
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Separately, ValuEngine upgraded shares of Chemung Financial Corp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th.
A hedge fund recently raised its stake in Chemung Financial Corp stock. State Street Corp increased its position in shares of Chemung Financial Corp (NASDAQ:CHMG) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,806 shares of the bank’s stock after purchasing an additional 5,097 shares during the period. State Street Corp owned approximately 0.97% of Chemung Financial Corp worth $1,871,000 as of its most recent SEC filing. Institutional investors own 30.72% of the company’s stock.
About Chemung Financial Corp
Chemung Financial Corporation is a bank holding company. The Company, through its subsidiaries, Chemung Canal Trust Company (the Bank) and CFS Group, Inc (CFS), provides a range of banking, financing, fiduciary and other financial services to its clients. The Company manages its operations through two segments: core banking and Wealth Management Group (WMG).
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