Chemical Financial Corp. (CHFC) to Release Quarterly Earnings on Wednesday
Chemical Financial Corp. (NASDAQ:CHFC) is set to announce its earnings results after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.69 per share for the quarter.
Chemical Financial Corp. (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ 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, analysts expect Chemical Financial Corp. to post $2.78 EPS for the current fiscal year and $3.09 EPS for the next fiscal year.
Chemical Financial Corp. (NASDAQ:CHFC) opened at 43.34 on Tuesday. The stock’s 50 day moving average is $44.44 and its 200 day moving average is $40.56. Chemical Financial Corp. has a one year low of $29.40 and a one year high of $47.62. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.88 and a beta of 1.34.
In related news, Director Richard M. Lievense sold 4,500 shares of Chemical Financial Corp. 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 transaction, the director now owns 60,097 shares of the company’s stock, valued at approximately $2,646,070.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lori A. Gwizdala sold 800 shares of Chemical Financial Corp. 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 directly owns 59,111 shares in the company, valued at approximately $2,633,395.05. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in shares of Chemical Financial Corp. during the second quarter worth $210,000. Summit Securities Group LLC acquired a new position in Chemical Financial Corp. during the second quarter valued at $288,000. Capstone Investment Advisors LLC acquired a new position in Chemical Financial Corp. during the second quarter valued at $290,000. Jefferies Group LLC acquired a new position in Chemical Financial Corp. during the second quarter valued at $381,000. Finally, BlackRock Inc. boosted its position in Chemical Financial Corp. by 341.5% in the second quarter. BlackRock Inc. now owns 13,594 shares of the company’s stock valued at $507,000 after buying an additional 10,515 shares during the period. 71.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented 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 target on the stock in a research report on Thursday, July 28th. Stephens started coverage on shares of Chemical Financial Corp. in a research report on Friday, September 2nd. They issued an “equal weight” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Chemical Financial Corp. from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.50.
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.
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