Dimensional Fund Advisors LP boosted its position in shares of Chemical Financial Corp. (NASDAQ:CHFC) by 8.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,540,442 shares of the company’s stock after buying an additional 190,500 shares during the period. Dimensional Fund Advisors LP owned approximately 6.64% of Chemical Financial Corp. worth $94,732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CHFC. FineMark National Bank & Trust raised its position in shares of Chemical Financial Corp. by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,086 shares of the company’s stock valued at $115,000 after buying an additional 17 shares in the last quarter. Pitcairn Co. raised its position in shares of Chemical Financial Corp. by 2.0% in the second quarter. Pitcairn Co. now owns 7,111 shares of the company’s stock valued at $266,000 after buying an additional 139 shares in the last quarter. Creative Planning raised its position in shares of Chemical Financial Corp. by 1.5% in the second quarter. Creative Planning now owns 12,743 shares of the company’s stock valued at $475,000 after buying an additional 191 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Chemical Financial Corp. by 8.5% in the second quarter. Teacher Retirement System of Texas now owns 8,276 shares of the company’s stock valued at $309,000 after buying an additional 645 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Chemical Financial Corp. by 16.8% in the first quarter. Legal & General Group Plc now owns 8,113 shares of the company’s stock valued at $292,000 after buying an additional 1,168 shares in the last quarter. 71.10% of the stock is currently owned by institutional investors and hedge funds.

Chemical Financial Corp. (NASDAQ:CHFC) traded up 0.936% during midday trading on Wednesday, hitting $44.735. 55,273 shares of the company were exchanged. The firm has a market capitalization of $1.71 billion, a PE ratio of 17.427 and a beta of 1.37. The stock has a 50 day moving average of $44.42 and a 200 day moving average of $39.38. 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 announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts predict that Chemical Financial Corp. will post $2.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 30th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend 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 (DPR) is 42.02%.

Several brokerages have recently weighed in on CHFC. Stephens began coverage on shares of Chemical Financial Corp. in a report on Friday, September 2nd. They set an “equal weight” rating on the stock. 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 upped 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. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Chemical Financial Corp. presently has a consensus rating of “Buy” and a consensus price target of $42.50.

In other Chemical Financial Corp. news, CFO Dennis L. Klaeser sold 49,785 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $45.24, for a total value of $2,252,273.40. Following the sale, the chief financial officer now owns 86,913 shares of the company’s stock, valued at approximately $3,931,944.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David T. Provost sold 279,101 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $45.24, for a total transaction of $12,626,529.24. Following the completion of the sale, the director now directly owns 324,610 shares in the company, valued at approximately $14,685,356.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Chemical Financial Corp. Company Profile

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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