Chemical Financial Corporation (CHFC) Insider Sells $199,675.00 in Stock
Chemical Financial Corporation (NASDAQ:CHFC) insider Gregory R. Bixby sold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total transaction of $199,675.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Chemical Financial Corporation (CHFC) traded down $1.02 during trading on Thursday, reaching $56.39. 425,212 shares of the company’s stock were exchanged, compared to its average volume of 326,855. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $3,959.13, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 2.07 and a beta of 1.14. Chemical Financial Corporation has a 52-week low of $43.61 and a 52-week high of $58.17.
Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $175.75 million during the quarter, compared to analyst estimates of $182.78 million. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. Chemical Financial’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. research analysts anticipate that Chemical Financial Corporation will post 2.99 earnings per share for the current year.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. ValuEngine lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and set a $55.00 target price on shares of Chemical Financial in a research note on Friday, October 27th. Boenning Scattergood reissued a “sell” rating on shares of Chemical Financial in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods lowered shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $54.07.
Several large investors have recently modified their holdings of CHFC. Capstone Asset Management Co. lifted its stake in shares of Chemical Financial by 2.7% in the 2nd quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock worth $257,000 after acquiring an additional 140 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Chemical Financial by 6.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,177 shares of the bank’s stock worth $1,267,000 after acquiring an additional 1,677 shares during the period. LS Investment Advisors LLC lifted its stake in shares of Chemical Financial by 18.1% in the 2nd quarter. LS Investment Advisors LLC now owns 5,649 shares of the bank’s stock worth $273,000 after acquiring an additional 864 shares during the period. State Treasurer State of Michigan lifted its stake in shares of Chemical Financial by 1.4% in the 2nd quarter. State Treasurer State of Michigan now owns 29,300 shares of the bank’s stock worth $1,418,000 after acquiring an additional 400 shares during the period. Finally, ING Groep NV acquired a new stake in shares of Chemical Financial in the 2nd quarter worth approximately $419,000. 78.43% of the stock is owned by institutional investors.
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Chemical Financial 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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