Chemical Financial Corporation (NASDAQ:CHFC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research firms have also commented on CHFC. Keefe, Bruyette & Woods set a $55.00 price objective on shares of Chemical Financial Corporation and gave the company a “buy” rating in a research note on Saturday, April 15th. DA Davidson initiated coverage on shares of Chemical Financial Corporation in a research note on Wednesday, July 5th. They issued a “buy” rating and a $58.00 price objective for the company. Stephens raised shares of Chemical Financial Corporation from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective for the company in a research note on Monday, July 10th. Hilliard Lyons raised shares of Chemical Financial Corporation to a “buy” rating and raised their price objective for the company from $54.00 to $55.00 in a research note on Friday, April 28th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Chemical Financial Corporation in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.17.

Shares of Chemical Financial Corporation (NASDAQ:CHFC) opened at 46.54 on Friday. The stock has a 50 day moving average of $48.14 and a 200 day moving average of $49.24. Chemical Financial Corporation has a 12-month low of $40.93 and a 12-month high of $55.55. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 19.51 and a beta of 1.12.

Chemical Financial Corporation (NASDAQ:CHFC) last announced its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $179.52 million during the quarter, compared to analyst estimates of $178.21 million. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. Analysts forecast that Chemical Financial Corporation will post $2.96 earnings per share for the current year.

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In other news, Director Richard M. Lievense sold 14,659 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $48.20, for a total value of $706,563.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Chemical Financial Corporation by 2.9% in the second quarter. BlackRock Inc. now owns 7,327,868 shares of the bank’s stock valued at $354,743,000 after buying an additional 206,663 shares during the period. Vanguard Group Inc. boosted its stake in shares of Chemical Financial Corporation by 6.6% in the first quarter. Vanguard Group Inc. now owns 6,014,072 shares of the bank’s stock valued at $307,620,000 after buying an additional 374,588 shares during the period. State Street Corp boosted its stake in shares of Chemical Financial Corporation by 26.8% in the first quarter. State Street Corp now owns 3,301,324 shares of the bank’s stock valued at $168,860,000 after buying an additional 696,794 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Chemical Financial Corporation by 15.8% in the first quarter. Westwood Holdings Group Inc. now owns 1,720,161 shares of the bank’s stock valued at $87,986,000 after buying an additional 234,921 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Chemical Financial Corporation by 24.1% in the second quarter. Schroder Investment Management Group now owns 1,575,071 shares of the bank’s stock valued at $76,407,000 after buying an additional 305,958 shares during the period. 79.43% of the stock is owned by institutional investors and hedge funds.

Chemical Financial Corporation 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. 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Chemical Financial Corporation (NASDAQ:CHFC)

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