Analysts’ Recent Ratings Updates for Chemical Financial (CHFC)

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A number of research firms have changed their ratings and price targets for Chemical Financial (NASDAQ: CHFC):

  • 10/31/2018 – Chemical Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/26/2018 – Chemical Financial was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 10/26/2018 – Chemical Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “CHEMICAL FINANCIAL CORP. is a multi-bank holding company. The company business is concentrated in a single industry segment, commercial banking. Subsidiaries offer a full range of commercial banking and fiduciary services. These include accepting deposits, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit services, automated teller machines, money transfer services, corporate and personal trust services and other banking services. “
  • 10/25/2018 – Chemical Financial was upgraded by analysts at Boenning Scattergood from an “under perform” rating to a “neutral” rating. They wrote, “We are upgrading our rating on CHFC shares to Neutral following the outsized sell-off in the stock in reaction to 3Q18 earnings. We continue to believe Chemical’s healthy combination of consistent organic growth, disciplined expense control, and extensive M&A experience should aid in sustaining the company’s elite returns longer-term, but continue to expect near-term pressure related to the company’s funding profile and aggressive growth outlook.””
  • 10/25/2018 – Chemical Financial had its “buy” rating reaffirmed by analysts at Raymond James. They now have a $53.00 price target on the stock.
  • 10/2/2018 – Chemical Financial was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/2/2018 – Chemical Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/25/2018 – Chemical Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $63.00 price target on the stock. According to Zacks, “CHEMICAL FINANCIAL CORP. is a multi-bank holding company. The company business is concentrated in a single industry segment, commercial banking. Subsidiaries offer a full range of commercial banking and fiduciary services. These include accepting deposits, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit services, automated teller machines, money transfer services, corporate and personal trust services and other banking services. “

NASDAQ:CHFC traded down $0.10 on Monday, reaching $46.36. 423,500 shares of the company’s stock were exchanged, compared to its average volume of 312,400. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $3.31 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.15. Chemical Financial Co. has a 52-week low of $41.97 and a 52-week high of $59.83.

Chemical Financial (NASDAQ:CHFC) last issued 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 business had revenue of $197.40 million for the quarter, compared to analysts’ expectations of $200.16 million. During the same quarter last year, the company earned $0.79 earnings per share. Analysts expect that Chemical Financial Co. will post 3.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, December 6th. Chemical Financial’s dividend payout ratio is presently 44.44%.

Several institutional investors have recently made changes to their positions in CHFC. Polaris Greystone Financial Group LLC acquired a new position in shares of Chemical Financial during the third quarter worth about $194,000. Nomura Holdings Inc. acquired a new position in Chemical Financial in the second quarter valued at approximately $237,000. IFP Advisors Inc boosted its holdings in Chemical Financial by 223.7% in 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. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Chemical Financial in the third quarter valued at approximately $256,000. Finally, Stifel Financial Corp boosted its holdings in Chemical Financial by 45.1% in 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. 83.22% of the stock is owned by institutional investors and hedge funds.

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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