Chemical Financial (CHFC) Downgraded by Zacks Investment Research

Chemical Financial (NASDAQ:CHFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “CHEMICAL FINANCIAL CORP. is a multi-bank holding company. The company business is concentrated in a single industry segment, commercial banking. Subsidiaries offer a full range of commercial banking and fiduciary services. These include accepting deposits, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit services, automated teller machines, money transfer services, corporate and personal trust services and other banking services. “

A number of other equities analysts have also recently issued reports on the company. Boenning Scattergood set a $43.00 target price on Chemical Financial and gave the stock a “sell” rating in a report on Tuesday, January 2nd. BidaskClub upgraded Chemical Financial from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $62.00 target price on shares of Chemical Financial in a report on Tuesday, January 9th. ValuEngine cut Chemical Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods cut Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.29.

Chemical Financial (CHFC) traded up $0.18 on Tuesday, hitting $55.31. 224,603 shares of the company were exchanged, compared to its average volume of 348,158. 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 has a 1-year low of $43.61 and a 1-year high of $59.83. The company has a market cap of $3,940.00, a PE ratio of 18.08, a P/E/G ratio of 1.58 and a beta of 1.21.

Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. The business had revenue of $178.22 million during the quarter, compared to analysts’ expectations of $183.89 million. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. research analysts predict that Chemical Financial will post 3.89 earnings per share for the current year.

In other news, VP Dennis L. Klaeser sold 53,536 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $58.48, for a total transaction of $3,130,785.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lori A. Gwizdala sold 5,594 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $59.27, for a total transaction of $331,556.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,155 shares of company stock valued at $4,436,061. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of CHFC. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Chemical Financial by 143.0% during 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 during the last quarter. Schroder Investment Management Group boosted its stake in shares of Chemical Financial by 18.3% during the 4th quarter. Schroder Investment Management Group now owns 1,981,132 shares of the bank’s stock worth $105,931,000 after buying an additional 306,595 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of Chemical Financial during the 4th quarter worth about $11,526,000. Castine Capital Management LLC acquired a new position in shares of Chemical Financial during the 3rd quarter worth about $7,839,000. Finally, Northpointe Capital LLC acquired a new position in shares of Chemical Financial during the 3rd quarter worth about $4,408,000. Institutional investors own 78.37% of the company’s stock.

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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.

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