Chemical Financial Co. (NASDAQ:CHFC) – Analysts at DA Davidson issued their Q3 2019 earnings per share (EPS) estimates for Chemical Financial in a research note issued on Wednesday, April 24th. DA Davidson analyst K. Reevey forecasts that the bank will earn $1.05 per share for the quarter. DA Davidson also issued estimates for Chemical Financial’s FY2019 earnings at $4.29 EPS.
Chemical Financial (NASDAQ:CHFC) last announced its earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.03. The company had revenue of $187.68 million for the quarter, compared to analysts’ expectations of $202.40 million. Chemical Financial had a return on equity of 10.14% and a net margin of 29.14%. During the same quarter in the previous year, the firm earned $0.97 earnings per share.
Shares of NASDAQ:CHFC opened at $44.04 on Monday. The company has a market cap of $3.15 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.89. Chemical Financial has a 12-month low of $34.62 and a 12-month high of $59.46.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.09%. Chemical Financial’s dividend payout ratio is presently 34.52%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Chemical Financial by 1,142.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 15,019 shares of the bank’s stock valued at $618,000 after purchasing an additional 13,810 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Chemical Financial during the 1st quarter valued at about $766,000. Virginia Retirement Systems ET AL boosted its holdings in Chemical Financial by 55.5% during the 1st quarter. Virginia Retirement Systems ET AL now owns 19,900 shares of the bank’s stock valued at $819,000 after acquiring an additional 7,100 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Chemical Financial by 3,092.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,952 shares of the bank’s stock valued at $574,000 after acquiring an additional 13,515 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Chemical Financial during the 1st quarter valued at about $645,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.
About Chemical Financial
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers a range of 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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