Chemical Financial Corp. (CHFC) Sees Large Volume Increase
Chemical Financial Corp. (NASDAQ:CHFC) shares saw strong trading volume on Tuesday . 1,393,311 shares traded hands during trading, an increase of 332% from the previous session’s volume of 322,622 shares.The stock last traded at $46.62 and had previously closed at $45.44.
Several research analysts have commented on the company. Zacks Investment Research raised Chemical Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Thursday, July 28th. Keefe, Bruyette & Woods boosted their target price on Chemical Financial Corp. from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Chemical Financial Corp. in a research note 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 target price of $42.50.
The stock’s 50-day moving average is $41.46 and its 200-day moving average is $37.87. The stock has a market capitalization of $1.75 billion and a P/E ratio of 17.81.
Chemical Financial Corp. (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. On average, analysts expect that Chemical Financial Corp. will post $2.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Tuesday, August 30th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 26th. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. 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 firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $44.03, for a total value of $198,135.00. Following the completion of the transaction, the director now owns 60,097 shares in the company, valued at approximately $2,646,070.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Lori A. Gwizdala sold 800 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $44.55, for a total value of $35,640.00. Following the completion of the transaction, the vice president now owns 59,111 shares of the company’s stock, valued at approximately $2,633,395.05. The disclosure for this sale can be found here.
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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