Chemical Financial (NASDAQ:CHFC) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other research firms have also recently issued reports on CHFC. Keefe, Bruyette & Woods cut Chemical Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $55.00 price target on shares of Chemical Financial in a research note on Friday, October 27th. Boenning Scattergood reaffirmed a “sell” rating on shares of Chemical Financial in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Finally, BidaskClub cut shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.07.

Chemical Financial (CHFC) traded up $0.07 during midday trading on Friday, reaching $56.46. The company had a trading volume of 318,772 shares, compared to its average volume of 248,010. Chemical Financial has a twelve month low of $43.61 and a twelve month high of $58.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $4,018.20, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.10 and a beta of 1.14.

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, topping analysts’ consensus estimates of $0.77 by $0.02. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The business had revenue of $175.75 million during the quarter, compared to analysts’ expectations of $182.78 million. During the same period in the prior year, the business earned $0.75 EPS. Chemical Financial’s revenue for the quarter was up 41.1% compared to the same quarter last year. analysts anticipate that Chemical Financial will post 2.99 EPS for the current fiscal year.

In related news, Director Larry D. Stauffer sold 1,900 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.19, for a total value of $101,061.00. Following the completion of the transaction, the director now directly owns 15,853 shares of the company’s stock, valued at $843,221.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $54.50, for a total transaction of $152,600.00. Following the completion of the transaction, the insider now directly owns 49,574 shares of the company’s stock, valued at $2,701,783. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock valued at $607,336 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Chemical Financial by 19.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,405 shares of the bank’s stock valued at $116,000 after buying an additional 389 shares in the last quarter. Zions Bancorporation bought a new position in shares of Chemical Financial in the third quarter valued at $121,000. PNC Financial Services Group Inc. grew its stake in shares of Chemical Financial by 220.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock valued at $177,000 after buying an additional 2,525 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of Chemical Financial by 59.5% in the second quarter. Riverhead Capital Management LLC now owns 3,827 shares of the bank’s stock valued at $185,000 after buying an additional 1,427 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Chemical Financial in the second quarter valued at $205,000. 78.43% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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