Chemical Financial Co. (NASDAQ:CHFC) – Piper Jaffray Companies decreased their FY2018 earnings estimates for shares of Chemical Financial in a research note issued to investors on Wednesday, October 24th. Piper Jaffray Companies analyst N. Race now forecasts that the bank will post earnings of $3.89 per share for the year, down from their prior forecast of $3.93. Piper Jaffray Companies also issued estimates for Chemical Financial’s Q4 2018 earnings at $0.97 EPS, Q1 2019 earnings at $0.96 EPS, Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $1.05 EPS, Q4 2019 earnings at $1.10 EPS and FY2019 earnings at $4.14 EPS.

CHFC has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Chemical Financial from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Sandler O’Neill downgraded shares of Chemical Financial from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Boenning Scattergood raised shares of Chemical Financial from an “under perform” rating to a “neutral” rating in a report on Thursday. Raymond James reaffirmed a “buy” rating and set a $53.00 price objective on shares of Chemical Financial in a report on Thursday. Finally, BidaskClub downgraded shares of Chemical Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $59.00.

Shares of NASDAQ CHFC opened at $43.76 on Monday. Chemical Financial has a 1 year low of $41.97 and a 1 year high of $59.83. The firm has a market cap of $3.13 billion, a P/E ratio of 14.30, a PEG ratio of 1.23 and a beta of 1.06. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15.

Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.01). Chemical Financial had a return on equity of 9.98% and a net margin of 24.78%. The firm had revenue of $197.40 million for the quarter, compared to analysts’ expectations of $200.16 million. During the same period last year, the company posted $0.79 earnings per share.

Institutional investors and hedge funds have recently bought and sold shares of the business. Polaris Greystone Financial Group LLC purchased a new position in Chemical Financial during the third quarter valued at $194,000. Nomura Holdings Inc. purchased a new position in Chemical Financial during the second quarter valued at $237,000. IFP Advisors Inc lifted its holdings in Chemical Financial by 223.7% during the third quarter. IFP Advisors Inc now owns 4,803 shares of the bank’s stock valued at $256,000 after purchasing an additional 3,319 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Chemical Financial by 43.0% during the second quarter. Advisors Asset Management Inc. now owns 5,159 shares of the bank’s stock valued at $613,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Chemical Financial by 45.1% during the first quarter. Stifel Financial Corp now owns 6,360 shares of the bank’s stock valued at $348,000 after purchasing an additional 1,977 shares in the last quarter. 83.28% of the stock is currently owned by institutional investors and hedge funds.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, December 6th. Chemical Financial’s payout ratio is 44.44%.

Chemical Financial Company Profile

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.

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Earnings History and Estimates for Chemical Financial (NASDAQ:CHFC)

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