Rhumbline Advisers boosted its stake in Chemical Financial Corporation (NASDAQ:CHFC) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,163 shares of the bank’s stock after buying an additional 7,616 shares during the period. Rhumbline Advisers owned 0.22% of Chemical Financial Corporation worth $7,415,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Chemical Financial Corporation by 15.8% in the first quarter. US Bancorp DE now owns 30,281 shares of the bank’s stock valued at $1,549,000 after buying an additional 4,133 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Chemical Financial Corporation by 9.7% in the first quarter. Flinton Capital Management LLC now owns 3,808 shares of the bank’s stock valued at $195,000 after buying an additional 336 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Chemical Financial Corporation by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,846 shares of the bank’s stock valued at $1,629,000 after buying an additional 130 shares in the last quarter. Tyers Asset Management LLC boosted its stake in Chemical Financial Corporation by 9.7% in the first quarter. Tyers Asset Management LLC now owns 2,992 shares of the bank’s stock valued at $153,000 after buying an additional 264 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in Chemical Financial Corporation by 1.8% in the first quarter. State Treasurer State of Michigan now owns 28,900 shares of the bank’s stock valued at $1,478,000 after buying an additional 500 shares in the last quarter. 79.19% of the stock is currently owned by institutional investors.

Chemical Financial Corporation (NASDAQ CHFC) opened at 46.27 on Friday. Chemical Financial Corporation has a 12-month low of $40.93 and a 12-month high of $55.55. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 19.39 and a beta of 1.12. The company has a 50-day moving average of $47.57 and a 200 day moving average of $48.94.

Chemical Financial Corporation (NASDAQ:CHFC) last announced its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. The business had revenue of $179.52 million for the quarter, compared to analyst estimates of $178.21 million. Equities analysts anticipate that Chemical Financial Corporation will post $2.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.42%. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, August 30th. Chemical Financial Corporation’s dividend payout ratio (DPR) is currently 47.58%.

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Several equities research analysts recently issued reports on CHFC shares. Boenning Scattergood reissued a “hold” rating on shares of Chemical Financial Corporation in a research report on Wednesday, July 26th. Stephens reissued a “buy” rating on shares of Chemical Financial Corporation in a research report on Wednesday, July 26th. BidaskClub raised shares of Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies started coverage on shares of Chemical Financial Corporation in a research report on Thursday, July 6th. They issued an “overweight” rating and a $56.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Chemical Financial Corporation has a consensus rating of “Hold” and a consensus price target of $56.17.

In other Chemical Financial Corporation news, Director Richard M. Lievense sold 14,659 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry D. Stauffer sold 2,110 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total value of $100,161.70. Following the completion of the transaction, the director now owns 13,246 shares of the company’s stock, valued at $628,787.62. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Chemical Financial Corporation (NASDAQ:CHFC)

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