Sullivan Bruyette Speros & Blaney LLC raised its stake in shares of Chemung Financial Corp. (NASDAQ:CHMG) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,807 shares of the bank’s stock after purchasing an additional 431 shares during the period. Sullivan Bruyette Speros & Blaney LLC owned 0.12% of Chemung Financial worth $281,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CHMG. BNP Paribas Arbitrage SA raised its position in Chemung Financial by 655.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 703 shares of the bank’s stock worth $33,000 after purchasing an additional 610 shares during the last quarter. Marshall Wace LLP acquired a new stake in Chemung Financial during the 1st quarter worth about $185,000. Bank of America Corp DE grew its holdings in Chemung Financial by 10.8% during the 4th quarter. Bank of America Corp DE now owns 4,703 shares of the bank’s stock worth $194,000 after acquiring an additional 457 shares during the period. Rhumbline Advisers acquired a new stake in Chemung Financial during the 1st quarter worth about $224,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Chemung Financial by 222.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,882 shares of the bank’s stock worth $316,000 after acquiring an additional 4,749 shares during the period. 36.72% of the stock is owned by institutional investors and hedge funds.

Chemung Financial stock traded down $0.22 during trading hours on Wednesday, reaching $39.68. 44 shares of the company’s stock were exchanged, compared to its average volume of 5,033. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. The firm’s 50 day simple moving average is $45.23 and its 200 day simple moving average is $46.53. The firm has a market capitalization of $198.56 million, a PE ratio of 10.33 and a beta of 0.23. Chemung Financial Corp. has a twelve month low of $36.87 and a twelve month high of $51.00.

Chemung Financial (NASDAQ:CHMG) last issued its earnings results on Monday, July 22nd. The bank reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.01. The company had revenue of $20.19 million during the quarter, compared to the consensus estimate of $20.59 million. Chemung Financial had a return on equity of 11.97% and a net margin of 24.94%. Analysts anticipate that Chemung Financial Corp. will post 3.92 EPS for the current year.

A number of brokerages have weighed in on CHMG. ValuEngine downgraded Chemung Financial from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Janney Montgomery Scott upgraded Chemung Financial from a “neutral” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded Chemung Financial from a “sell” rating to a “hold” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.00.

Chemung Financial 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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Institutional Ownership by Quarter for Chemung Financial (NASDAQ:CHMG)

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