Gregory R. Bixby Sells 3,500 Shares of Chemical Financial Corporation (CHFC) Stock
Chemical Financial Corporation (NASDAQ:CHFC) insider Gregory R. Bixby sold 3,500 shares of Chemical Financial stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $57.05, for a total value of $199,675.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Chemical Financial Corporation (NASDAQ CHFC) traded up $0.07 during mid-day trading on Friday, reaching $56.46. The company had a trading volume of 318,772 shares, compared to its average volume of 263,877. The stock has a market capitalization of $4,020.00, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. Chemical Financial Corporation has a 12-month low of $43.61 and a 12-month high of $58.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.94.
Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, October 24th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $175.75 million during the quarter, compared to analysts’ expectations of $182.78 million. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The firm’s revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. research analysts predict that Chemical Financial Corporation will post 2.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, November 30th. Chemical Financial’s payout ratio is 42.59%.
Several brokerages have recently issued reports on CHFC. ValuEngine upgraded Chemical Financial from a “hold” rating to a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods cut Chemical Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $55.00 price objective on shares of Chemical Financial in a research note on Friday, October 27th. Boenning Scattergood reiterated a “sell” rating on shares of Chemical Financial in a research note on Thursday, October 26th. Finally, Zacks Investment Research cut Chemical Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $54.07.
A number of hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its stake in Chemical Financial by 2.1% during the second quarter. Teacher Retirement System of Texas now owns 5,722 shares of the bank’s stock worth $277,000 after purchasing an additional 117 shares during the last quarter. World Asset Management Inc increased its position in Chemical Financial by 2.9% during the second quarter. World Asset Management Inc now owns 4,468 shares of the bank’s stock worth $216,000 after buying an additional 128 shares during the period. Capstone Asset Management Co. increased its position in Chemical Financial by 2.7% during the second quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock worth $257,000 after buying an additional 140 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Chemical Financial by 3.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,622 shares of the bank’s stock worth $272,000 after buying an additional 205 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Chemical Financial by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock worth $1,911,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 78.43% of the company’s stock.
About Chemical Financial
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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