Chemical Financial Corporation (NASDAQ:CHFC) Director Richard M. Lievense Sells 14,659 Shares
Chemical Financial Corporation (NASDAQ:CHFC) Director Richard M. Lievense sold 14,659 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $48.20, for a total value of $706,563.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Chemical Financial Corporation (NASDAQ:CHFC) traded down 1.57% on Friday, reaching $45.81. The company had a trading volume of 562,812 shares. The stock has a 50 day moving average price of $48.12 and a 200 day moving average price of $49.21. Chemical Financial Corporation has a 52-week low of $40.93 and a 52-week high of $55.55. The stock has a market capitalization of $3.26 billion, a PE ratio of 19.20 and a beta of 1.12.
Chemical Financial Corporation (NASDAQ:CHFC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The business had revenue of $179.52 million for the quarter, compared to analyst estimates of $178.21 million. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. Analysts expect that Chemical Financial Corporation will post $2.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.28 per share. This is a positive change from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.44%. Chemical Financial Corporation’s payout ratio is presently 47.58%.
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Institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its stake in Chemical Financial Corporation by 18.3% in the fourth quarter. Macquarie Group Ltd. now owns 78,226 shares of the bank’s stock valued at $4,238,000 after buying an additional 12,100 shares during the period. Foundry Partners LLC increased its stake in Chemical Financial Corporation by 3.4% in the first quarter. Foundry Partners LLC now owns 75,006 shares of the bank’s stock valued at $3,837,000 after buying an additional 2,436 shares during the period. Creative Planning increased its stake in Chemical Financial Corporation by 11.2% in the first quarter. Creative Planning now owns 3,043 shares of the bank’s stock valued at $156,000 after buying an additional 307 shares during the period. Capstone Asset Management Co. increased its stake in Chemical Financial Corporation by 4.9% in the first quarter. Capstone Asset Management Co. now owns 5,179 shares of the bank’s stock valued at $265,000 after buying an additional 240 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Chemical Financial Corporation by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock valued at $916,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.
Several research analysts have recently weighed in on the company. BidaskClub upgraded Chemical Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $55.00 target price on Chemical Financial Corporation and gave the stock a “buy” rating in a report on Saturday, April 15th. ValuEngine cut Chemical Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday. Piper Jaffray Companies initiated coverage on Chemical Financial Corporation in a report on Thursday, July 6th. They set an “overweight” rating and a $56.00 target price on the stock. Finally, DA Davidson initiated coverage on Chemical Financial Corporation in a report on Wednesday, July 5th. They issued a “buy” rating and a $58.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.17.
Chemical Financial Corporation Company Profile
Chemical Financial Corporation is a financial holding company. The Company operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers banking and fiduciary products and services. These products and services include 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, access to insurance and investment products, corporate and personal wealth management services, and other banking services.
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