Chemical Financial Co. (NASDAQ:CHFC) has received an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $58.33.
CHFC has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Chemical Financial from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 6th. ValuEngine cut shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Boenning Scattergood restated a “sell” rating on shares of Chemical Financial in a research note on Thursday, October 26th. Keefe, Bruyette & Woods cut shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $62.00 price objective on shares of Chemical Financial in a research note on Tuesday, January 9th.
Shares of Chemical Financial (CHFC) opened at $57.09 on Thursday. Chemical Financial has a one year low of $43.61 and a one year high of $59.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3,930.77, a PE ratio of 27.32, a P/E/G ratio of 1.58 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, March 1st. Chemical Financial’s dividend payout ratio (DPR) is presently 53.59%.
In other Chemical Financial news, CEO David T. Provost purchased 3,356 shares of the company’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of $58.50 per share, for a total transaction of $196,326.00. Following the completion of the transaction, the chief executive officer now owns 96,296 shares in the company, valued at $5,633,316. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lori A. Gwizdala sold 2,800 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.00, for a total transaction of $154,000.00. Following the completion of the sale, the insider now owns 46,774 shares in the company, valued at $2,572,570. 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 owned by company insiders.
A number of institutional investors have recently modified their holdings of CHFC. PNC Financial Services Group Inc. raised its position in Chemical Financial by 220.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock worth $177,000 after acquiring an additional 2,525 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Chemical Financial in the second quarter worth about $310,000. Stifel Financial Corp bought a new stake in Chemical Financial in the second quarter worth about $205,000. State Street Corp raised its position in Chemical Financial by 1.4% in the second quarter. State Street Corp now owns 3,346,155 shares of the bank’s stock worth $161,989,000 after acquiring an additional 44,831 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Chemical Financial by 1.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,153 shares of the bank’s stock worth $1,072,000 after acquiring an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.
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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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