Traders Buy Shares of Chemical Financial Corp. (CHFC) on Weakness
Traders bought shares of Chemical Financial Corp. (NASDAQ:CHFC) on weakness during trading on Wednesday. $238.43 million flowed into the stock on the tick-up and $11.15 million flowed out of the stock on the tick-down, for a money net flow of $227.28 million into the stock. Of all equities tracked, Chemical Financial Corp. had the 2nd highest net in-flow for the day. Chemical Financial Corp. traded down ($0.49) for the day and closed at $46.23
Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised 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. Boenning Scattergood restated a “neutral” rating on shares of Chemical Financial Corp. in a research note on Tuesday, June 7th. Finally, Zacks Investment Research upgraded 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. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Chemical Financial Corp. presently has a consensus rating of “Buy” and a consensus target price of $42.50.
The stock’s 50-day moving average price is $42.71 and its 200-day moving average price is $38.39. The company has a market capitalization of $1.77 billion and a price-to-earnings ratio of 18.01.
Chemical Financial Corp. (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. Analysts expect that Chemical Financial Corp. will post $2.79 earnings per share for the current fiscal year.
The company also recently disclosed 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. This is a positive change from Chemical Financial Corp.’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, August 26th.
In other news, Director Richard M. Lievense sold 4,500 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $44.03, for a total transaction of $198,135.00. Following the completion of the transaction, the director now directly owns 60,097 shares of the company’s stock, valued at $2,646,070.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lori A. Gwizdala sold 800 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $44.55, for a total transaction of $35,640.00. Following the transaction, the vice president now directly owns 59,111 shares of the company’s stock, valued at $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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