A number of research firms have changed their ratings and price targets for Chemical Financial Corporation (NASDAQ: CHFC):
- 11/9/2017 – Chemical Financial Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 10/27/2017 – Chemical Financial Corporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $55.00 price target on the stock.
- 10/26/2017 – Chemical Financial Corporation was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating.
- 10/26/2017 – Chemical Financial Corporation had its “sell” rating reaffirmed by analysts at Boenning Scattergood.
- 10/10/2017 – Chemical Financial Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $59.00 price target on the stock. 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. “
- 9/19/2017 – Chemical Financial Corporation was downgraded by analysts at Boenning Scattergood from a “neutral” rating to an “under perform” rating. They now have a $41.50 price target on the stock.
Chemical Financial Corporation (NASDAQ CHFC) traded up $0.64 during trading hours on Tuesday, reaching $52.36. 250,800 shares of the company traded hands, compared to its average volume of 330,019. The company has a market capitalization of $3,680.86, a PE ratio of 17.53, a P/E/G ratio of 1.90 and a beta of 1.14. Chemical Financial Corporation has a twelve month low of $43.61 and a twelve month high of $55.55. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.
Chemical Financial Corporation (NASDAQ:CHFC) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $175.75 million for the quarter, compared to analysts’ expectations of $182.78 million. Chemical Financial Corporation had a net margin of 24.23% and a return on equity of 8.05%. The firm’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. analysts predict that Chemical Financial Corporation will post 3.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, November 30th. Chemical Financial Corporation’s dividend payout ratio (DPR) is currently 42.75%.
In other Chemical Financial Corporation news, insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $54.50, for a total transaction of $152,600.00. Following the completion of the transaction, the insider now owns 49,574 shares of the company’s stock, valued at $2,701,783. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry D. Stauffer sold 1,900 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.19, for a total value of $101,061.00. Following the transaction, the director now directly owns 15,853 shares of the company’s stock, valued at approximately $843,221.07. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
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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