Chemical Financial (CHFC) Trading Down 5.1%

Shares of Chemical Financial Co. (NASDAQ:CHFC) dropped 5.1% on Monday . The company traded as low as $40.43 and last traded at $40.60. Approximately 534,600 shares were traded during trading, a decline of 19% from the average daily volume of 660,585 shares. The stock had previously closed at $42.77.

CHFC has been the subject of a number of recent analyst reports. Sandler O’Neill raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, February 8th. BidaskClub raised shares of Chemical Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Keefe, Bruyette & Woods raised shares of Chemical Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $59.00 in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Raymond James set a $55.00 price target on shares of Chemical Financial and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, ValuEngine downgraded shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $52.71.

The company has a market capitalization of $2.91 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.89 and a quick ratio of 0.89.

Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.03. The company had revenue of $187.68 million for the quarter, compared to analysts’ expectations of $202.40 million. Chemical Financial had a return on equity of 10.14% and a net margin of 29.14%. During the same period last year, the business posted $0.97 earnings per share. As a group, sell-side analysts forecast that Chemical Financial Co. will post 4.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, June 6th. Chemical Financial’s payout ratio is 34.52%.

Several hedge funds and other institutional investors have recently modified their holdings of CHFC. Oregon Public Employees Retirement Fund lifted its stake in shares of Chemical Financial by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,465 shares of the bank’s stock valued at $1,042,000 after acquiring an additional 298 shares during the period. Retirement Systems of Alabama raised its position in shares of Chemical Financial by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 92,633 shares of the bank’s stock worth $3,391,000 after buying an additional 363 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Chemical Financial by 40.7% in the first quarter. Toronto Dominion Bank now owns 1,439 shares of the bank’s stock worth $59,000 after buying an additional 416 shares in the last quarter. Cambiar Investors LLC raised its position in shares of Chemical Financial by 0.4% in the fourth quarter. Cambiar Investors LLC now owns 94,619 shares of the bank’s stock worth $3,464,000 after buying an additional 423 shares in the last quarter. Finally, JOYN Advisors Inc. raised its position in shares of Chemical Financial by 85.2% in the fourth quarter. JOYN Advisors Inc. now owns 941 shares of the bank’s stock worth $34,000 after buying an additional 433 shares in the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.

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Chemical Financial Company Profile (NASDAQ:CHFC)

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers a range of 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.

Further Reading: Net Margin

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