Chemical Financial Corp. (CHFC) Sets New 1-Year High at $45.37
Shares of Chemical Financial Corp. (NASDAQ:CHFC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $45.37 and last traded at $45.29, with a volume of 68,961 shares changing hands. The stock had previously closed at $45.12.
A number of analysts have recently issued reports on CHFC shares. Zacks Investment Research upgraded shares of Chemical Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Thursday, July 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Chemical Financial Corp. from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of Chemical Financial Corp. in a report on Tuesday, June 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chemical Financial Corp. presently has an average rating of “Buy” and a consensus price target of $42.50.
The firm’s 50-day moving average is $40.80 and its 200-day moving average is $37.52. The stock has a market capitalization of $1.73 billion and a price-to-earnings ratio of 17.6531.
Chemical Financial Corp. (NASDAQ:CHFC) last announced its earnings results on Tuesday, July 26th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.07. Equities analysts anticipate that Chemical Financial Corp. will post $2.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Tuesday, August 30th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, August 26th. This is a positive change from Chemical Financial Corp.’s previous quarterly dividend of $0.26.
In other Chemical Financial Corp. news, Director Richard M. Lievense sold 4,500 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $44.03, for a total transaction of $198,135.00. Following the transaction, the director now directly owns 60,097 shares in the company, valued at approximately $2,646,070.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Lori A. Gwizdala sold 800 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $44.55, for a total value of $35,640.00. Following the transaction, the vice president now owns 59,111 shares in the company, valued at $2,633,395.05. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Chemical Financial Corp. stock. Victory Capital Management Inc. raised its position in Chemical Financial Corp. (NASDAQ:CHFC) by 2,562.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 98,134 shares of the company’s stock after buying an additional 94,448 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of Chemical Financial Corp. worth $3,363,000 as of its most recent filing with the SEC.
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.
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