Chemical Financial Co. (NASDAQ:CHFC) – Stock analysts at Boenning Scattergood dropped their FY2018 EPS estimates for shares of Chemical Financial in a note issued to investors on Tuesday, according to Zacks Investment Research. Boenning Scattergood analyst S. Beury now expects that the bank will post earnings of $3.44 per share for the year, down from their previous estimate of $3.48.
A number of other brokerages also recently issued reports on CHFC. Zacks Investment Research downgraded Chemical Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Keefe, Bruyette & Woods set a $55.00 price target on Chemical Financial and gave the company a “buy” rating in a research report on Saturday, April 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.
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Chemical Financial (NASDAQ:CHFC) traded down 0.28% during trading on Thursday, hitting $49.23. 315,545 shares of the company’s stock traded hands. The company has a market cap of $3.50 billion, a PE ratio of 22.69 and a beta of 1.11. The company’s 50 day moving average price is $50.74 and its 200 day moving average price is $50.04. Chemical Financial has a 52-week low of $34.82 and a 52-week high of $55.55.
Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings data on Wednesday, January 25th. The bank reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Chemical Financial had a net margin of 20.09% and a return on equity of 8.95%. The company earned $186.71 million during the quarter, compared to analyst estimates of $176.13 million.
In other news, Director Ronald A. Klein sold 5,000 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $48.88, for a total value of $244,400.00. Following the sale, the director now directly owns 11,245 shares of the company’s stock, valued at $549,655.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Fitterling bought 1,500 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was bought at an average cost of $48.57 per share, for a total transaction of $72,855.00. Following the completion of the purchase, the director now owns 23,044 shares of the company’s stock, valued at approximately $1,119,247.08. The disclosure for this purchase can be found here. Insiders sold 64,468 shares of company stock valued at $3,134,972 in the last quarter. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CHFC. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Chemical Financial by 153.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,722 shares of the bank’s stock worth $139,000 after buying an additional 1,650 shares during the last quarter. Tyers Asset Management LLC acquired a new position in shares of Chemical Financial during the fourth quarter worth about $148,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Chemical Financial by 4.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,783 shares of the bank’s stock worth $123,000 after buying an additional 114 shares during the last quarter. Creative Planning increased its position in Chemical Financial by 11.2% in the first quarter. Creative Planning now owns 3,043 shares of the bank’s stock worth $156,000 after buying an additional 307 shares in the last quarter. Finally, FineMark National Bank & Trust increased its position in Chemical Financial by 0.6% in the third quarter. FineMark National Bank & Trust now owns 3,105 shares of the bank’s stock worth $137,000 after buying an additional 19 shares in the last quarter. 74.36% of the stock is currently owned by hedge funds and other institutional investors.
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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