Chemical Financial Corp. (CHFC) Hits New 12-Month High at $44.46
Chemical Financial Corp. (NASDAQ:CHFC) shares reached a new 52-week high during trading on Monday . The company traded as high as $44.46 and last traded at $44.45, with a volume of 177,989 shares trading hands. The stock had previously closed at $44.00.
CHFC has been the topic of a number of analyst reports. Zacks Investment Research raised Chemical Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Thursday, July 28th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Chemical Financial Corp. in a research note on Tuesday, June 7th. Finally, Keefe, Bruyette & Woods upped their target price on Chemical Financial Corp. from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.50.
The stock has a 50-day moving average of $39.59 and a 200 day moving average of $37.02. The stock has a market cap of $1.71 billion and a P/E ratio of 17.40.
Chemical Financial Corp. (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.07. Equities analysts expect that Chemical Financial Corp. will post $2.79 EPS for the current year.
In other Chemical Financial Corp. news, Director Richard M. Lievense sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $44.03, for a total value of $198,135.00. Following the transaction, the director now directly owns 60,097 shares of the company’s stock, valued at approximately $2,646,070.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and institutional investors have added to or reduced their stakes in the company. Swiss National Bank raised its position in Chemical Financial Corp. by 21.3% in the fourth quarter. Swiss National Bank now owns 49,233 shares of the company’s stock worth $1,687,000 after buying an additional 8,633 shares during the period. First Trust Advisors LP raised its position in Chemical Financial Corp. by 93.5% in the fourth quarter. First Trust Advisors LP now owns 46,256 shares of the company’s stock worth $1,585,000 after buying an additional 22,346 shares during the period. Rhumbline Advisers raised its position in Chemical Financial Corp. by 1.2% in the fourth quarter. Rhumbline Advisers now owns 51,779 shares of the company’s stock worth $1,774,000 after buying an additional 615 shares during the period. California Public Employees Retirement System raised its position in Chemical Financial Corp. by 2.3% in the fourth quarter. California Public Employees Retirement System now owns 120,000 shares of the company’s stock worth $4,112,000 after buying an additional 2,700 shares during the period. Finally, Victory Capital Management Inc. raised its position in Chemical Financial Corp. by 2,562.3% in the fourth quarter. Victory Capital Management Inc. now owns 98,134 shares of the company’s stock worth $3,363,000 after buying an additional 94,448 shares during the period.
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. Its 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, debit cards, access to insurance and investment products, corporate and personal wealth management services, and other banking services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.