Shares of Chemical Financial Corp. (NASDAQ:CHFC) have received a consensus rating of “Buy” from the eight brokerages that are currently covering the company. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $42.50.

A number of equities research analysts have recently issued reports on the stock. Boenning Scattergood reaffirmed a “neutral” rating on shares of Chemical Financial Corp. in a report on Tuesday, June 7th. Keefe, Bruyette & Woods increased their price target 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. Stephens initiated coverage on shares of Chemical Financial Corp. in a report on Friday, September 2nd. They issued an “equal weight” rating on the stock. Finally, Zacks Investment Research raised shares of Chemical Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Thursday, July 28th.

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 shares were sold at an average price of $44.03, for a total transaction of $198,135.00. Following 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas W. Kohn sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $46.75, for a total transaction of $46,750.00. Following the transaction, the insider now owns 46,037 shares in the company, valued at approximately $2,152,229.75. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Chemical Financial Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 2,828,988 shares of the company’s stock worth $105,494,000 after buying an additional 120,238 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chemical Financial Corp. by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,540,442 shares of the company’s stock worth $94,732,000 after buying an additional 190,500 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Chemical Financial Corp. by 19.1% in the second quarter. Franklin Resources Inc. now owns 1,884,651 shares of the company’s stock worth $70,279,000 after buying an additional 302,430 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Chemical Financial Corp. by 3.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,440,225 shares of the company’s stock worth $53,706,000 after buying an additional 44,350 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Chemical Financial Corp. by 17.7% in the second quarter. Schroder Investment Management Group now owns 1,231,500 shares of the company’s stock worth $45,923,000 after buying an additional 184,800 shares during the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.

Chemical Financial Corp. (NASDAQ:CHFC) opened at 44.33 on Thursday. The company has a market cap of $1.70 billion, a PE ratio of 17.27 and a beta of 1.37. The stock has a 50 day moving average of $44.34 and a 200-day moving average of $39.31. Chemical Financial Corp. has a 1-year low of $29.40 and a 1-year high of $47.62.

Chemical Financial Corp. (NASDAQ:CHFC) last issued its earnings results on Tuesday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.07. Chemical Financial Corp. had a net margin of 24.58% and a return on equity of 10.21%. On average, equities research analysts predict that Chemical Financial Corp. will post $2.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 30th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Friday, August 26th. This is a positive change from Chemical Financial Corp.’s previous quarterly dividend of $0.26. Chemical Financial Corp.’s dividend payout ratio is presently 42.02%.

About Chemical Financial Corp.

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.

5 Day Chart for NASDAQ:CHFC

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