Chemung Financial Corp (CHMG) Releases Earnings Results, Beats Estimates By $0.05 EPS
Chemung Financial Corp (NASDAQ:CHMG) posted its quarterly earnings data on Wednesday. The bank reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.05, Bloomberg Earnings reports. Chemung Financial Corp had a net margin of 15.01% and a return on equity of 7.90%.
Chemung Financial Corp (NASDAQ:CHMG) traded up 0.29% during trading on Thursday, hitting $44.55. 1,007 shares of the stock were exchanged. Chemung Financial Corp has a 52 week low of $28.06 and a 52 week high of $48.06. The firm has a market cap of $211.03 million, a PE ratio of 18.31 and a beta of 0.22. The firm’s 50-day moving average is $42.88 and its 200 day moving average is $40.36.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 18th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.33%. Chemung Financial Corp’s dividend payout ratio is 42.62%.
Separately, ValuEngine upgraded shares of Chemung Financial Corp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th.
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An institutional investor recently raised its position in Chemung Financial Corp stock. State Street Corp raised its stake in Chemung Financial Corp (NASDAQ:CHMG) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,806 shares of the bank’s stock after acquiring an additional 5,097 shares during the quarter. State Street Corp owned approximately 0.97% of Chemung Financial Corp worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 29.96% of the company’s stock.
Chemung Financial Corp Company Profile
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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