Shares of Chemical Financial Co. (NASDAQ:CHFC) have been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $65.00.
CHFC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, July 3rd. BidaskClub raised shares of Chemical Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Sandler O’Neill downgraded shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call.
Shares of CHFC opened at $57.29 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $4.08 billion, a P/E ratio of 15.91, a PEG ratio of 1.60 and a beta of 1.05. Chemical Financial has a 1 year low of $43.61 and a 1 year high of $59.83.
Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, July 24th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $195.56 million for the quarter, compared to the consensus estimate of $195.58 million. Chemical Financial had a net margin of 22.38% and a return on equity of 9.59%. equities analysts predict that Chemical Financial will post 3.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.37%. This is an increase from Chemical Financial’s previous quarterly dividend of $0.28. Chemical Financial’s dividend payout ratio (DPR) is currently 36.60%.
Large investors have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new position in Chemical Financial during the second quarter worth approximately $237,000. Stifel Financial Corp raised its stake in Chemical Financial by 45.1% during the first quarter. Stifel Financial Corp now owns 6,360 shares of the bank’s stock worth $348,000 after purchasing an additional 1,977 shares during the period. Hsbc Holdings PLC purchased a new position in Chemical Financial during the first quarter worth approximately $448,000. Capital Fund Management S.A. purchased a new position in Chemical Financial during the second quarter worth approximately $451,000. Finally, Xact Kapitalforvaltning AB raised its stake in Chemical Financial by 44.6% during the first quarter. Xact Kapitalforvaltning AB now owns 9,395 shares of the bank’s stock worth $514,000 after purchasing an additional 2,900 shares during the period. 83.24% of the stock is currently owned by institutional investors.
About Chemical Financial
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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