Quantitative Systematic Strategies LLC bought a new stake in Chemical Financial Co. (NASDAQ:CHFC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,568 shares of the bank’s stock, valued at approximately $244,000.

A number of other institutional investors have also recently bought and sold shares of CHFC. PNC Financial Services Group Inc. raised its position in Chemical Financial by 220.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock valued at $177,000 after purchasing an additional 2,525 shares during the last quarter. GSA Capital Partners LLP bought a new position in Chemical Financial in the second quarter valued at about $310,000. Stifel Financial Corp bought a new position in Chemical Financial in the second quarter valued at about $205,000. Shelton Capital Management bought a new position in Chemical Financial in the second quarter valued at about $256,000. Finally, State Street Corp raised its position in Chemical Financial by 1.4% in the second quarter. State Street Corp now owns 3,346,155 shares of the bank’s stock valued at $161,989,000 after purchasing an additional 44,831 shares during the last quarter. Hedge funds and other institutional investors own 78.45% of the company’s stock.

In other Chemical Financial news, CEO David T. Provost bought 3,356 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was acquired at an average price of $58.50 per share, with a total value of $196,326.00. Following the completion of the purchase, the chief executive officer now directly owns 96,296 shares of the company’s stock, valued at approximately $5,633,316. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald A. Klein sold 2,619 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $56.75, for a total value of $148,628.25. Following the sale, the director now directly owns 9,139 shares of the company’s stock, valued at approximately $518,638.25. The disclosure for this sale can be found here. Insiders have sold 76,155 shares of company stock valued at $4,436,061 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

Several equities analysts have commented on the company. Hilliard Lyons upgraded Chemical Financial from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. DA Davidson raised their price objective on Chemical Financial to $70.00 and gave the stock an “average” rating in a research report on Thursday, January 25th. BidaskClub upgraded Chemical Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine downgraded Chemical Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $62.00 price objective on shares of Chemical Financial in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Chemical Financial presently has an average rating of “Hold” and an average price target of $57.29.

Chemical Financial Co. (NASDAQ CHFC) opened at $55.17 on Friday. Chemical Financial Co. has a 1 year low of $43.61 and a 1 year high of $59.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $3,928.49, a PE ratio of 17.68, a PEG ratio of 1.58 and a beta of 1.21.

Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. Chemical Financial had a return on equity of 8.46% and a net margin of 19.26%. The company had revenue of $178.22 million during the quarter, compared to the consensus estimate of $183.89 million. research analysts predict that Chemical Financial Co. will post 3.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. Chemical Financial’s dividend payout ratio (DPR) is 53.59%.

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

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