Chemical Financial Corporation (CHFC) – Research Analysts’ Weekly Ratings Updates
Several brokerages have updated their recommendations and price targets on shares of Chemical Financial Corporation (NASDAQ: CHFC) in the last few weeks:
- 8/3/2017 – Chemical Financial Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 7/26/2017 – Chemical Financial Corporation had its “hold” rating reaffirmed by analysts at Boenning Scattergood. They wrote, “We continue to view Chemical Financial Corporation as a mature bank with a healthy combination of rapid growth and elite return metrics. The company’s transformational merger with Talmer Bancorp has made Chemical the largest locally- headquartered bank in the state of Michigan and, with its larger balance sheet, the company appears positioned to take advantage of previously untapped opportunities in the middle market. 2Q17 results were generally encouraging with strong organic growth and disciplined cost control driving earnings ahead of our estimate. Additionally, the company recently announced the retirement of long-time CEO David Ramaker, who has been replaced by David Provost (prior Talmer CEO) as CEO of the holding company, and Thomas Shafer (prior Talmer COO) as CEO of the bank. While we remain highly confident that Chemical will successfully meet these challenges in the long run with its new management team, we continue to believe the stock has already benefited from the financial impact of the Talmer deal, and caution investors regarding the potential for lumpy results in the interim while the company allocates resources to complete the integration process and refine its strategic plan as a regional bank. In consideration of these factors, we maintain our Neutral rating on CHFC shares.””
- 7/26/2017 – Chemical Financial Corporation had its “buy” rating reaffirmed by analysts at Stephens.
- 7/19/2017 – Chemical Financial Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 7/10/2017 – Chemical Financial Corporation was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating. They now have a $56.00 price target on the stock.
- 7/6/2017 – Chemical Financial Corporation is now covered by analysts at Piper Jaffray Companies. They set an “overweight” rating and a $56.00 price target on the stock.
- 7/5/2017 – Chemical Financial Corporation is now covered by analysts at DA Davidson. They set a “buy” rating and a $58.00 price target on the stock.
- 7/3/2017 – Chemical Financial Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “CHEMICAL FINANCIAL CORP. is a multi-bank holding company. The company business is concentrated in a single industry segment, commercial banking. Subsidiaries offer a full range of commercial banking and fiduciary services. These include accepting deposits, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit services, automated teller machines, money transfer services, corporate and personal trust services and other banking services. “
- 6/30/2017 – Chemical Financial Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 6/22/2017 – Chemical Financial Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 6/13/2017 – Chemical Financial Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
Chemical Financial Corporation (CHFC) traded down 0.11% during mid-day trading on Wednesday, reaching $46.95. 590,272 shares of the company traded hands. The firm has a market capitalization of $3.34 billion, a P/E ratio of 19.68 and a beta of 1.12. Chemical Financial Corporation has a 12-month low of $40.93 and a 12-month high of $55.55. The company’s 50 day moving average price is $48.27 and its 200 day moving average price is $49.32.
Chemical Financial Corporation (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. The business had revenue of $179.52 million for the quarter, compared to the consensus estimate of $178.21 million. Equities research analysts predict that Chemical Financial Corporation will post $2.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.28 per share. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.39%. Chemical Financial Corporation’s dividend payout ratio is presently 47.58%.
In other news, Director Richard M. Lievense sold 14,659 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $48.20, for a total transaction of $706,563.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
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. These 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, access to insurance and investment products, corporate and personal wealth management services, and other banking services.
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