Chemung Financial (NASDAQ:CHMG) issued its quarterly earnings data on Wednesday. The bank reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.04), Bloomberg Earnings reports. Chemung Financial had a return on equity of 11.30% and a net margin of 22.40%. The business had revenue of $20.09 million during the quarter, compared to analysts’ expectations of $20.32 million.
Shares of NASDAQ:CHMG opened at $49.78 on Thursday. Chemung Financial has a 52 week low of $36.87 and a 52 week high of $53.99. The firm has a market capitalization of $241.58 million, a price-to-earnings ratio of 13.10 and a beta of 0.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.92 and a quick ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a $0.26 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.09%. Chemung Financial’s payout ratio is currently 27.37%.
A number of equities analysts have commented on CHMG shares. Zacks Investment Research cut shares of Chemung Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 24th. ValuEngine raised shares of Chemung Financial from a “sell” rating to a “hold” rating in a research note on Monday, February 4th.
In other news, Director Denise V. Gonick purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The stock was purchased at an average cost of $41.76 per share, with a total value of $41,760.00. Following the purchase, the director now owns 1,276 shares in the company, valued at $53,285.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey B. Streeter purchased 594 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $47.11 per share, with a total value of $27,983.34. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $47,110. The disclosure for this purchase can be found here. Company insiders own 18.98% of the company’s stock.
An institutional investor recently raised its position in Chemung Financial stock. Geode Capital Management LLC increased its position in shares of Chemung Financial Corp. (NASDAQ:CHMG) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,202 shares of the bank’s stock after purchasing an additional 1,021 shares during the period. Geode Capital Management LLC owned approximately 0.63% of Chemung Financial worth $1,247,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 34.82% of the company’s stock.
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Chemung Financial Company Profile
Chemung Financial Corporation operates as a bank. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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