Equities research analysts forecast that Chemical Financial Co. (NASDAQ:CHFC) will report sales of $200.12 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Chemical Financial’s earnings, with estimates ranging from $198.30 million to $202.00 million. Chemical Financial reported sales of $178.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The company is expected to issue its next quarterly earnings report on Tuesday, January 22nd.
According to Zacks, analysts expect that Chemical Financial will report full year sales of $787.28 million for the current fiscal year, with estimates ranging from $779.00 million to $794.00 million. For the next fiscal year, analysts expect that the firm will post sales of $838.40 million, with estimates ranging from $828.10 million to $849.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last released its earnings results on Tuesday, October 23rd. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $197.40 million for the quarter, compared to the consensus estimate of $200.16 million. Chemical Financial had a net margin of 24.78% and a return on equity of 9.98%. During the same period in the prior year, the company posted $0.79 EPS.
Several brokerages recently issued reports on CHFC. BidaskClub raised Chemical Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 31st. Zacks Investment Research cut Chemical Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Sandler O’Neill cut Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Boenning Scattergood raised Chemical Financial from an “under perform” rating to a “neutral” rating in a research note on Thursday, October 25th. Finally, Raymond James reissued a “buy” rating and issued a $53.00 price objective on shares of Chemical Financial in a research note on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $59.00.
Shares of NASDAQ:CHFC opened at $47.19 on Friday. Chemical Financial has a 52-week low of $41.97 and a 52-week high of $59.83. The company has a market capitalization of $3.36 billion, a P/E ratio of 15.42, a PEG ratio of 1.33 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.88%. Chemical Financial’s dividend payout ratio (DPR) is presently 44.44%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ontario Teachers Pension Plan Board bought a new stake in Chemical Financial during the 3rd quarter valued at $2,504,000. CIBC World Markets Inc. bought a new stake in Chemical Financial during the 3rd quarter valued at $350,000. American International Group Inc. boosted its position in Chemical Financial by 1.3% during the 3rd quarter. American International Group Inc. now owns 191,189 shares of the bank’s stock valued at $10,209,000 after acquiring an additional 2,417 shares in the last quarter. BlackRock Inc. boosted its position in Chemical Financial by 2.5% during the 3rd quarter. BlackRock Inc. now owns 8,226,520 shares of the bank’s stock valued at $439,298,000 after acquiring an additional 196,977 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its position in Chemical Financial by 1.4% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 210,482 shares of the bank’s stock valued at $11,239,000 after acquiring an additional 2,959 shares in the last quarter. 83.22% of the stock is currently owned by institutional investors and hedge funds.
About Chemical Financial
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.
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