Wall Street analysts expect that Chemical Financial Corporation (NASDAQ:CHFC) will post sales of $183.89 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Chemical Financial’s earnings, with estimates ranging from $179.55 million to $188.00 million. Chemical Financial reported sales of $186.71 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.5%. The business is expected to issue its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Chemical Financial will report full year sales of $183.89 million for the current financial year, with estimates ranging from $702.92 million to $720.00 million. For the next financial year, analysts expect that the company will report sales of $770.41 million per share, with estimates ranging from $748.84 million to $784.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The firm had revenue of $175.75 million during the quarter, compared to analyst estimates of $182.78 million. During the same period in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year.
In related news, insider Gregory R. Bixby sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total value of $199,675.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry D. Stauffer sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $53.19, for a total transaction of $101,061.00. Following the completion of the sale, the director now owns 15,853 shares of the company’s stock, valued at approximately $843,221.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,619 shares of company stock valued at $755,964. 2.20% of the stock is owned by insiders.
Several large investors have recently modified their holdings of CHFC. Vaughan Nelson Investment Management L.P. lifted its position in Chemical Financial by 143.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,279,260 shares of the bank’s stock worth $119,114,000 after buying an additional 1,341,400 shares in the last quarter. Koch Industries Inc. purchased a new stake in Chemical Financial in the 2nd quarter worth approximately $515,000. Schroder Investment Management Group lifted its position in Chemical Financial by 24.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,575,071 shares of the bank’s stock worth $76,407,000 after buying an additional 305,958 shares in the last quarter. BlackRock Inc. lifted its position in Chemical Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 7,327,868 shares of the bank’s stock worth $354,743,000 after buying an additional 206,663 shares in the last quarter. Finally, Castine Capital Management LLC purchased a new stake in Chemical Financial in the 3rd quarter worth approximately $7,839,000. Institutional investors and hedge funds own 78.44% of the company’s stock.
Chemical Financial (NASDAQ CHFC) traded down $0.64 during mid-day trading on Tuesday, hitting $54.45. The stock had a trading volume of 181,200 shares, compared to its average volume of 326,895. The stock has a market capitalization of $3,880.00, a price-to-earnings ratio of 18.67, a PEG ratio of 2.05 and a beta of 1.14. Chemical Financial has a 1-year low of $43.61 and a 1-year high of $58.17. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, November 30th. Chemical Financial’s dividend payout ratio (DPR) is 42.59%.
About Chemical Financial
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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