Vanguard Group Inc. Raises Holdings in Chemical Financial Corporation (CHFC)

Vanguard Group Inc. boosted its holdings in shares of Chemical Financial Corporation (NASDAQ:CHFC) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,121,518 shares of the bank’s stock after purchasing an additional 107,446 shares during the period. Vanguard Group Inc. owned approximately 8.61% of Chemical Financial Corporation worth $296,344,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CHFC. UBS Asset Management Americas Inc. grew its position in Chemical Financial Corporation by 27.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 42,768 shares of the bank’s stock worth $2,188,000 after purchasing an additional 9,082 shares during the last quarter. Sei Investments Co. grew its position in Chemical Financial Corporation by 52.6% during the 1st quarter. Sei Investments Co. now owns 19,631 shares of the bank’s stock worth $1,004,000 after purchasing an additional 6,763 shares during the last quarter. Ameriprise Financial Inc. grew its position in Chemical Financial Corporation by 0.4% during the 1st quarter. Ameriprise Financial Inc. now owns 216,930 shares of the bank’s stock worth $11,094,000 after purchasing an additional 966 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Chemical Financial Corporation by 8.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,884 shares of the bank’s stock worth $457,000 after purchasing an additional 708 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Chemical Financial Corporation by 252.3% during the 1st quarter. SG Americas Securities LLC now owns 20,927 shares of the bank’s stock worth $1,070,000 after purchasing an additional 14,987 shares during the last quarter. 76.46% of the stock is currently owned by institutional investors.

Shares of Chemical Financial Corporation (NASDAQ:CHFC) opened at 53.44 on Wednesday. The stock has a 50 day moving average of $48.57 and a 200 day moving average of $48.12. The firm has a market cap of $3.80 billion, a PE ratio of 22.40 and a beta of 1.15. Chemical Financial Corporation has a 1-year low of $40.93 and a 1-year high of $55.55.

Chemical Financial Corporation (NASDAQ:CHFC) last released its earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $179.52 million during 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%. Equities research analysts anticipate that Chemical Financial Corporation will post $2.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.10%. This is a positive change from Chemical Financial Corporation’s previous quarterly dividend of $0.27. Chemical Financial Corporation’s dividend payout ratio is currently 49.34%.

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In other news, Director Richard M. Lievense sold 14,659 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.20, for a total transaction of $706,563.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry D. Stauffer sold 2,110 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $47.47, for a total transaction of $100,161.70. Following the transaction, the director now owns 13,246 shares of the company’s stock, valued at approximately $628,787.62. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on the stock. BidaskClub raised shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research raised shares of Chemical Financial Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday. ValuEngine downgraded shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $54.00 price objective on shares of Chemical Financial Corporation in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies assumed coverage on shares of Chemical Financial Corporation in a research report on Thursday, July 6th. They set an “overweight” rating and a $56.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Chemical Financial Corporation currently has an average rating of “Hold” and a consensus target price of $54.21.

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

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