Eagle Boston Investment Management Inc. grew its position in shares of Chemical Financial Co. (NASDAQ:CHFC) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,482 shares of the bank’s stock after purchasing an additional 2,959 shares during the period. Eagle Boston Investment Management Inc.’s holdings in Chemical Financial were worth $11,239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CHFC. Prudential Financial Inc. increased its holdings in Chemical Financial by 92.0% during the third quarter. Prudential Financial Inc. now owns 185,694 shares of the bank’s stock valued at $9,917,000 after buying an additional 88,957 shares during the period. JPMorgan Chase & Co. increased its holdings in Chemical Financial by 50.7% during the third quarter. JPMorgan Chase & Co. now owns 121,539 shares of the bank’s stock valued at $6,490,000 after buying an additional 40,876 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in Chemical Financial by 19.4% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 415,386 shares of the bank’s stock valued at $22,182,000 after buying an additional 67,586 shares during the period. SG Americas Securities LLC increased its holdings in Chemical Financial by 59.2% during the third quarter. SG Americas Securities LLC now owns 57,406 shares of the bank’s stock valued at $3,065,000 after buying an additional 21,341 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Chemical Financial during the third quarter valued at approximately $256,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.

NASDAQ CHFC opened at $47.05 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.92. Chemical Financial Co. has a 12-month low of $41.97 and a 12-month high of $59.83. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.33 and a beta of 1.15.

Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $200.16 million. During the same period in the prior year, the firm posted $0.79 earnings per share. Sell-side analysts anticipate that Chemical Financial Co. will post 3.92 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, December 6th. Chemical Financial’s dividend payout ratio is currently 44.44%.

Several brokerages recently issued reports on CHFC. BidaskClub raised shares of Chemical Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 31st. Zacks Investment Research lowered shares of Chemical Financial from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Sandler O’Neill lowered 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, October 25th. Finally, Raymond James reissued a “buy” rating and set a $53.00 price objective on shares of Chemical Financial in a report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $59.00.

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

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