Chemical Financial Co. (CHFC) Short Interest Update

Chemical Financial Co. (NASDAQ:CHFC) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,648,003 shares, an increase of 37.0% from the January 12th total of 1,932,480 shares. Based on an average daily trading volume, of 359,056 shares, the short-interest ratio is currently 7.4 days. Approximately 3.8% of the shares of the company are sold short.

In related news, insider Gregory R. Bixby sold 3,500 shares of Chemical Financial stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total value of $199,675.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dennis L. Klaeser sold 53,536 shares of Chemical Financial stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $58.48, for a total transaction of $3,130,785.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,155 shares of company stock worth $4,436,061. 2.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CHFC. Zions Bancorporation purchased a new stake in shares of Chemical Financial during the 3rd quarter worth $121,000. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 2,525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 purchasing an additional 1,380 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Chemical Financial during the 2nd quarter worth $205,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of 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 purchasing an additional 2,074 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.

A number of research firms recently weighed in on CHFC. DA Davidson lifted their price objective on shares of Chemical Financial to $70.00 and gave the company an “average” rating in a research report on Thursday, January 25th. Hilliard Lyons upgraded shares of Chemical Financial from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. ValuEngine lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, BidaskClub lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Chemical Financial currently has an average rating of “Hold” and an average price target of $57.29.

Shares of Chemical Financial (NASDAQ:CHFC) opened at $55.17 on Friday. The company has a market cap of $3,892.18, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.56 and a beta of 1.21. Chemical Financial has a 1 year low of $43.61 and a 1 year high of $59.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94.

Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. The company 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%. sell-side analysts predict that Chemical Financial will post 3.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, March 1st. This represents a $1.12 annualized dividend and a dividend yield of 2.03%. Chemical Financial’s payout ratio is currently 53.59%.

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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.

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