BidaskClub Upgrades Chemical Financial (CHFC) to “Strong-Buy”

Chemical Financial (NASDAQ:CHFC) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Other analysts also recently issued reports about the company. Boenning Scattergood downgraded Chemical Financial from a “neutral” rating to an “under perform” rating and set a $41.50 target price for the company. in a research note on Tuesday, September 19th. ValuEngine downgraded Chemical Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $54.00 target price on shares of Chemical Financial in a research note on Thursday, August 10th. Piper Jaffray Companies restated a “buy” rating and issued a $55.00 target price on shares of Chemical Financial in a research note on Friday, October 27th. Finally, Zacks Investment Research downgraded Chemical Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Chemical Financial currently has a consensus rating of “Buy” and a consensus target price of $54.07.

Shares of Chemical Financial (NASDAQ:CHFC) remained flat at $$55.95 during trading on Wednesday. The stock had a trading volume of 345,900 shares, compared to its average volume of 327,625. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market capitalization of $3,981.90, a price-to-earnings ratio of 18.97, a P/E/G ratio of 2.08 and a beta of 1.14. Chemical Financial has a fifty-two week low of $43.61 and a fifty-two week high of $58.17.

Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The company had revenue of $175.75 million during the quarter, compared to the consensus estimate of $182.78 million. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The firm’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. research analysts forecast that Chemical Financial will post 2.99 earnings per share for the current year.

In related news, insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $54.50, for a total value of $152,600.00. Following the transaction, the insider now owns 49,574 shares of the company’s stock, valued at approximately $2,701,783. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry D. Stauffer sold 1,900 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $53.19, for a total transaction of $101,061.00. Following the completion of the transaction, the director now directly owns 15,853 shares in the company, valued at approximately $843,221.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,619 shares of company stock worth $755,964. 2.20% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its position in shares of Chemical Financial by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,722 shares of the bank’s stock worth $277,000 after buying an additional 117 shares in the last quarter. World Asset Management Inc lifted its position in shares of Chemical Financial by 2.9% during the 2nd quarter. World Asset Management Inc now owns 4,468 shares of the bank’s stock worth $216,000 after buying an additional 128 shares in the last quarter. Capstone Asset Management Co. lifted its position in shares of Chemical Financial by 2.7% during the 2nd quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock worth $257,000 after buying an additional 140 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Chemical Financial by 3.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,622 shares of the bank’s stock worth $272,000 after buying an additional 205 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Chemical Financial by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock worth $1,911,000 after buying an additional 299 shares in the last quarter. 78.44% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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