Dennis L. Klaeser Sells 53,536 Shares of Chemical Financial Co. (CHFC) Stock

Chemical Financial Co. (NASDAQ:CHFC) VP Dennis L. Klaeser sold 53,536 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $58.48, for a total transaction of $3,130,785.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Chemical Financial Co. (NASDAQ:CHFC) traded down $1.00 during trading hours on Tuesday, hitting $54.32. 114,365 shares of the company traded hands, compared to its average volume of 344,718. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $4,136.42, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. Chemical Financial Co. has a 1-year low of $43.61 and a 1-year high of $59.83.

Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The business had revenue of $178.22 million for the quarter, compared to analyst estimates of $183.89 million. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. equities research analysts forecast that Chemical Financial Co. will post 3.88 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 1st. Chemical Financial’s dividend payout ratio (DPR) is 53.59%.

A number of institutional investors have recently added to or reduced their stakes in CHFC. Zions Bancorporation purchased a new stake in Chemical Financial during the 3rd quarter worth $121,000. PNC Financial Services Group Inc. increased its stake in Chemical Financial by 220.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock worth $177,000 after buying an additional 2,525 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Chemical Financial by 57.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock worth $202,000 after buying an additional 1,380 shares during the period. Stifel Financial Corp purchased a new stake in Chemical Financial during the 2nd quarter worth $205,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Chemical Financial by 99.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock worth $218,000 after buying an additional 2,074 shares during the period. 78.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the stock. Hilliard Lyons raised shares of Chemical Financial from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Boenning Scattergood set a $43.00 target price on shares of Chemical Financial and gave the stock a “sell” rating in a research report on Tuesday, January 2nd. Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. BidaskClub upgraded shares of Chemical Financial from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 6th. Finally, ValuEngine upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $57.29.

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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.

Insider Buying and Selling by Quarter for Chemical Financial (NASDAQ:CHFC)

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