Brokerages expect that Chemical Financial Co. (NASDAQ:CHFC) will post $200.16 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Chemical Financial’s earnings, with the lowest sales estimate coming in at $196.40 million and the highest estimate coming in at $205.00 million. Chemical Financial posted sales of $175.75 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The firm is expected to issue its next earnings results after the market closes on Tuesday, October 23rd.
On average, analysts expect that Chemical Financial will report full-year sales of $791.50 million for the current year, with estimates ranging from $784.00 million to $805.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $854.52 million, with estimates ranging from $845.00 million to $873.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, July 24th. The bank reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.01. Chemical Financial had a net margin of 22.38% and a return on equity of 9.59%. The company had revenue of $195.56 million during the quarter, compared to the consensus estimate of $195.58 million.
A number of equities analysts have recently commented on the stock. BidaskClub upgraded shares of Chemical Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Zacks Investment Research downgraded shares of Chemical Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. 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. Finally, ValuEngine downgraded shares of Chemical Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $60.20.
Chemical Financial stock opened at $49.77 on Tuesday. Chemical Financial has a one year low of $48.17 and a one year high of $59.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $3.60 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06.
The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were paid a $0.34 dividend. This is an increase from Chemical Financial’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, September 6th. Chemical Financial’s dividend payout ratio (DPR) is 44.44%.
A number of large investors have recently modified their holdings of CHFC. Nomura Holdings Inc. acquired a new stake in Chemical Financial in the 2nd quarter valued at about $237,000. Stifel Financial Corp raised its holdings in Chemical Financial by 45.1% in the 1st quarter. Stifel Financial Corp now owns 6,360 shares of the bank’s stock valued at $348,000 after acquiring an additional 1,977 shares during the period. Hsbc Holdings PLC bought a new position in Chemical Financial in the 1st quarter valued at about $448,000. Capital Fund Management S.A. bought a new position in Chemical Financial in the 2nd quarter valued at about $451,000. Finally, Xact Kapitalforvaltning AB raised its holdings in Chemical Financial by 44.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,395 shares of the bank’s stock valued at $514,000 after acquiring an additional 2,900 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.
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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