Chemical Financial Corp. (CHFC) Reaches New 1-Year High at $45.37
Shares of Chemical Financial Corp. (NASDAQ:CHFC) hit a new 52-week high on Monday . The company traded as high as $45.37 and last traded at $45.29, with a volume of 68,961 shares changing hands. The stock had previously closed at $45.12.
CHFC has been the subject of a number of research reports. Zacks Investment Research raised shares of 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 reissued a “neutral” rating on shares of Chemical Financial Corp. in a report on Tuesday, June 7th. Finally, Keefe, Bruyette & Woods raised 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Chemical Financial Corp. presently has an average rating of “Buy” and an average price target of $42.50.
The firm has a market capitalization of $1.76 billion and a PE ratio of 17.97. The company has a 50 day moving average price of $41.19 and a 200-day moving average price of $37.81.
Chemical Financial Corp. (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. On average, equities research analysts forecast that Chemical Financial Corp. will post $2.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Tuesday, August 30th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, August 26th. This is an increase from Chemical Financial Corp.’s previous quarterly dividend of $0.26.
In other Chemical Financial Corp. news, Director Richard M. Lievense sold 4,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $44.03, for a total value of $198,135.00. Following the transaction, the director now directly owns 60,097 shares of the company’s stock, valued at $2,646,070.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lori A. Gwizdala sold 800 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $44.55, for a total transaction of $35,640.00. Following the completion of the transaction, the vice president now directly owns 59,111 shares in the company, 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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