Chemical Financial Corp. (CHFC) Sees Strong Trading Volume
Chemical Financial Corp. (NASDAQ:CHFC) shares saw unusually-strong trading volume on Tuesday . Approximately 1,393,311 shares were traded during mid-day 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 weighed in on CHFC shares. Zacks Investment Research upgraded Chemical Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Thursday, July 28th. Boenning Scattergood reiterated a “neutral” rating on shares of Chemical Financial Corp. in a report on Tuesday, June 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Chemical Financial Corp. from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chemical Financial Corp. has a consensus rating of “Buy” and an average price target of $42.50.
The company has a 50 day moving average price of $41.19 and a 200-day moving average price of $37.81. The stock has a market capitalization of $1.76 billion and a price-to-earnings ratio of 17.97.
Chemical Financial Corp. (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. Analysts predict that Chemical Financial Corp. will post $2.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Tuesday, August 30th will be given a $0.27 dividend. The ex-dividend date is Friday, August 26th. This represents a $1.08 dividend on an annualized basis and a yield of 2.34%. This is an increase from Chemical Financial Corp.’s previous quarterly dividend of $0.26.
In other Chemical Financial Corp. news, VP Lori A. Gwizdala sold 800 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $44.55, for a total value of $35,640.00. Following the completion of the sale, the vice president now owns 59,111 shares in the company, valued at approximately $2,633,395.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard M. Lievense sold 4,500 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $44.03, for a total transaction of $198,135.00. Following the completion of the sale, the director now owns 60,097 shares of the company’s stock, valued at approximately $2,646,070.91. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Chemical Financial Corp. stock. Victory Capital Management Inc. increased its position in Chemical Financial Corp. (NASDAQ:CHFC) by 2,562.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,134 shares of the company’s stock after buying an additional 94,448 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of Chemical Financial Corp. worth $3,363,000 at the end of the most recent quarter.
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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