Today, Chemical Financial Corp. (CHFC) Given Consensus Rating of “Buy” by Analysts

Today, Chemical Financial Corp. (CHFC) Given Consensus Rating of “Buy” by Analysts
Chemical Financial Corp. (NASDAQ:CHFC) has received an average rating of “Buy” from the eight brokerages that are currently covering the firm. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.33.

Several brokerages have issued reports on CHFC. Keefe, Bruyette & Woods lifted their target price on shares of Chemical Financial Corp. from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Zacks Investment Research cut shares of Chemical Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Stephens began coverage on shares of Chemical Financial Corp. in a report on Friday, September 2nd. They issued an “equal weight” rating for the company.

Shares of Chemical Financial Corp. (NASDAQ:CHFC) traded down 1.16% during mid-day trading on Friday, hitting $52.14. 164,296 shares of the company were exchanged. The company has a 50 day moving average of $45.58 and a 200 day moving average of $42.22. The company has a market capitalization of $3.68 billion, a P/E ratio of 25.42 and a beta of 1.04. Chemical Financial Corp. has a 52 week low of $29.40 and a 52 week high of $53.03.

Chemical Financial Corp. (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. Chemical Financial Corp. had a net margin of 19.60% and a return on equity of 8.15%. Equities analysts anticipate that Chemical Financial Corp. will post $2.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.05%. Chemical Financial Corp.’s dividend payout ratio is presently 50.47%.

In other news, insider Lori A. Gwizdala sold 500 shares of Chemical Financial Corp. stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $51.08, for a total value of $25,540.00. Following the completion of the sale, the insider now directly owns 48,395 shares in the company, valued at $2,472,016.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David T. Provost sold 279,101 shares of Chemical Financial Corp. stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $45.24, for a total transaction of $12,626,529.24. Following the completion of the sale, the director now owns 324,610 shares of the company’s stock, valued at $14,685,356.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. FineMark National Bank & Trust raised its stake in shares of Chemical Financial Corp. by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,086 shares of the company’s stock worth $115,000 after buying an additional 17 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Chemical Financial Corp. by 4.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,783 shares of the company’s stock valued at $123,000 after buying an additional 114 shares during the period. Pitcairn Co. raised its stake in shares of Chemical Financial Corp. by 2.0% in the second quarter. Pitcairn Co. now owns 7,111 shares of the company’s stock valued at $266,000 after buying an additional 139 shares during the period. American International Group Inc. raised its stake in shares of Chemical Financial Corp. by 0.7% in the second quarter. American International Group Inc. now owns 22,030 shares of the company’s stock valued at $821,000 after buying an additional 161 shares during the period. Finally, Aspen Investment Management Inc raised its stake in shares of Chemical Financial Corp. by 1.2% in the third quarter. Aspen Investment Management Inc now owns 15,892 shares of the company’s stock valued at $701,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 55.49% of the company’s stock.

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