Chemung Financial (NASDAQ:CHMG) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Chemung Financial (NASDAQ CHMG) traded up $3.39 during mid-day trading on Friday, hitting $52.14. 4,577 shares of the stock were exchanged, compared to its average volume of 3,819. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. Chemung Financial has a one year low of $31.72 and a one year high of $53.67. The company has a market capitalization of $247.16, a price-to-earnings ratio of 19.90 and a beta of 0.22.

Chemung Financial (NASDAQ:CHMG) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Chemung Financial had a net margin of 15.94% and a return on equity of 8.39%. The company had revenue of $19.93 million during the quarter.

In other Chemung Financial news, CFO Karl Francis Krebs sold 750 shares of Chemung Financial stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $46.67, for a total transaction of $35,002.50. Following the completion of the sale, the chief financial officer now directly owns 3,462 shares in the company, valued at $161,571.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.28% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Chemung Financial by 0.7% during the second quarter. Vanguard Group Inc. now owns 109,852 shares of the bank’s stock valued at $4,491,000 after purchasing an additional 797 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Chemung Financial by 47.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,484 shares of the bank’s stock worth $265,000 after acquiring an additional 2,101 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chemung Financial by 166.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,580 shares of the bank’s stock worth $228,000 after acquiring an additional 3,489 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Chemung Financial by 8.6% in the 2nd quarter. Teachers Advisors LLC now owns 5,350 shares of the bank’s stock worth $219,000 after acquiring an additional 424 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Chemung Financial by 18.2% in the 2nd quarter. Private Advisor Group LLC now owns 7,169 shares of the bank’s stock worth $291,000 after acquiring an additional 1,106 shares during the last quarter. Institutional investors and hedge funds own 30.90% of the company’s stock.

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Chemung Financial 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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