Chemical Financial (NASDAQ:CHFC) received a $43.00 price target from research analysts at Boenning Scattergood in a research note issued to investors on Tuesday. The brokerage presently has a “sell” rating on the bank’s stock. Boenning Scattergood’s price target points to a potential downside of 19.58% from the company’s current price.
A number of other equities research analysts also recently commented on CHFC. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, December 26th. ValuEngine raised shares of Chemical Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub downgraded shares of Chemical Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods downgraded shares of Chemical Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $55.00 target price on shares of Chemical Financial in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.57.
Shares of Chemical Financial (NASDAQ CHFC) opened at $53.47 on Tuesday. Chemical Financial has a 52-week low of $43.61 and a 52-week high of $58.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $3,805.40, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.
In related news, insider Gregory R. Bixby sold 3,500 shares of the 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald A. Klein sold 2,619 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $56.75, for a total transaction of $148,628.25. Following the sale, the director now owns 9,139 shares of the company’s stock, valued at approximately $518,638.25. The disclosure for this sale can be found here. Insiders sold a total of 13,619 shares of company stock worth $755,964 over the last ninety days. Insiders own 2.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Chemical Financial by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 870,782 shares of the bank’s stock worth $42,153,000 after purchasing an additional 13,044 shares during the period. Prudential Financial Inc. boosted its stake in Chemical Financial by 141.7% during the 2nd quarter. Prudential Financial Inc. now owns 114,197 shares of the bank’s stock worth $5,528,000 after purchasing an additional 66,940 shares during the period. Chatham Capital Group Inc. boosted its stake in Chemical Financial by 8.2% during the 2nd quarter. Chatham Capital Group Inc. now owns 30,815 shares of the bank’s stock worth $1,492,000 after purchasing an additional 2,335 shares during the period. Sei Investments Co. boosted its stake in Chemical Financial by 10.6% during the 3rd quarter. Sei Investments Co. now owns 22,483 shares of the bank’s stock worth $1,175,000 after purchasing an additional 2,154 shares during the period. Finally, Koch Industries Inc. acquired a new stake in Chemical Financial during the 2nd quarter worth $515,000. Hedge funds and other institutional investors own 78.42% 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.
