Chemical Financial Corp. (CHFC) Sees Strong Trading Volume
Chemical Financial Corp. (NASDAQ:CHFC) saw unusually-high trading volume on Monday . Approximately 828,447 shares were traded during trading, an increase of 102% from the previous session’s volume of 409,696 shares.The stock last traded at $46.51 and had previously closed at $46.20.
CHFC has been the subject of several analyst reports. 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 research note on Thursday, July 28th. Keefe, Bruyette & Woods upped their price target on Chemical Financial Corp. from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of Chemical Financial Corp. in a research report on Tuesday, June 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $42.50.
The stock has a 50-day moving average of $42.24 and a 200-day moving average of $38.23. The firm has a market capitalization of $1.78 billion and a PE ratio of 18.12.
Chemical Financial Corp. (NASDAQ:CHFC) last issued its earnings results on Tuesday, July 26th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. On average, equities analysts expect that Chemical Financial Corp. will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Tuesday, August 30th will be given a $0.27 dividend. This is a positive change from Chemical Financial Corp.’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, August 26th. This represents a $1.08 annualized dividend and a dividend yield of 2.32%.
In other news, VP Lori A. Gwizdala sold 800 shares of Chemical Financial Corp. stock in a transaction that occurred on 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 owns 59,111 shares in the company, valued at approximately $2,633,395.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard M. Lievense sold 4,500 shares of Chemical Financial Corp. stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $44.03, for a total value of $198,135.00. Following the completion of the transaction, 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.
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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