Chemung Financial Corp (NASDAQ:CHMG) Declares Quarterly Dividend of $0.34

Chemung Financial Corp (NASDAQ:CHMG) announced a quarterly dividend on Tuesday, February 17th. Shareholders of record on Wednesday, March 18th will be paid a dividend of 0.34 per share by the bank on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, March 18th.

Chemung Financial has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Chemung Financial has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Chemung Financial to earn $6.01 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 22.6%.

Chemung Financial Price Performance

Chemung Financial stock traded down $0.65 during trading hours on Wednesday, hitting $58.59. 451 shares of the stock were exchanged, compared to its average volume of 7,629. The business’s 50-day moving average is $57.78 and its two-hundred day moving average is $54.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 0.98. Chemung Financial has a 12 month low of $40.71 and a 12 month high of $65.50. The stock has a market capitalization of $280.88 million, a P/E ratio of 18.86 and a beta of 0.48.

Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings data on Monday, January 26th. The bank reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. Chemung Financial had a net margin of 10.73% and a return on equity of 11.80%. The firm had revenue of $30.52 million during the quarter, compared to analysts’ expectations of $29.48 million. Equities research analysts expect that Chemung Financial will post 5.38 EPS for the current fiscal year.

Chemung Financial Company Profile

Chemung Financial Corporation serves as the bank holding company for Chemung Canal Trust Company, a community bank founded in 1833 and headquartered in Elmira, New York. With deep historical roots in the Southern Tier of New York, the company has expanded its footprint to serve customers throughout the region, including northern Pennsylvania. Chemung Financial emphasizes relationship-driven banking by combining personalized service with modern delivery channels.

Through its subsidiary, Chemung Canal Trust Company, Chemung Financial offers a comprehensive suite of financial products and services.