Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Chemical Financial Corporation (NASDAQ:CHFC) by 19.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,405 shares of the bank’s stock after acquiring an additional 389 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chemical Financial Corporation were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in shares of Chemical Financial Corporation by 18,200.8% during the 1st quarter. BlackRock Inc. now owns 7,121,205 shares of the bank’s stock valued at $364,250,000 after purchasing an additional 7,082,293 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Chemical Financial Corporation by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 6,014,072 shares of the bank’s stock valued at $307,620,000 after purchasing an additional 374,588 shares in the last quarter. State Street Corp grew its position in shares of Chemical Financial Corporation by 26.8% during the 1st quarter. State Street Corp now owns 3,301,324 shares of the bank’s stock valued at $168,860,000 after purchasing an additional 696,794 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Chemical Financial Corporation by 15.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,720,161 shares of the bank’s stock valued at $87,986,000 after purchasing an additional 234,921 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Chemical Financial Corporation by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 870,782 shares of the bank’s stock valued at $42,153,000 after purchasing an additional 13,044 shares in the last quarter. 76.46% of the stock is currently owned by institutional investors and hedge funds.

In other Chemical Financial Corporation news, Director Richard M. Lievense sold 14,659 shares of Chemical Financial Corporation stock in a transaction on Friday, July 28th. The shares were sold at an average price of $48.20, for a total value of $706,563.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry D. Stauffer sold 2,110 shares of Chemical Financial Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now owns 13,246 shares in the company, valued at $628,787.62. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

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Chemical Financial Corporation (NASDAQ CHFC) opened at 49.80 on Friday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 20.87 and a beta of 1.14. The company has a 50-day moving average of $46.43 and a 200 day moving average of $48.18. Chemical Financial Corporation has a 12 month low of $40.93 and a 12 month high of $55.55.

Chemical Financial Corporation (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm had revenue of $179.52 million for the quarter, compared to the consensus estimate of $178.21 million. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. On average, equities research analysts anticipate that Chemical Financial Corporation will post $2.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.25%. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 30th. Chemical Financial Corporation’s dividend payout ratio (DPR) is presently 49.34%.

A number of research analysts have recently commented on the stock. BidaskClub upgraded shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. ValuEngine lowered shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods restated a “buy” rating and set a $54.00 price target on shares of Chemical Financial Corporation in a research report on Thursday, August 10th. Piper Jaffray Companies assumed coverage on shares of Chemical Financial Corporation in a research report on Thursday, July 6th. They set an “overweight” rating and a $56.00 price target for the company. Finally, Boenning Scattergood lowered shares of Chemical Financial Corporation from a “neutral” rating to an “under perform” rating and set a $41.50 price target for the company. in a research report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.07.

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.

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Institutional Ownership by Quarter for Chemical Financial Corporation (NASDAQ:CHFC)

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