BidaskClub Lowers Chemical Financial (CHFC) to Buy

BidaskClub downgraded shares of Chemical Financial (NASDAQ:CHFC) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Several other equities analysts have also commented on the company. Boenning Scattergood reiterated a sell rating on shares of Chemical Financial in a research report on Thursday, October 26th. Piper Jaffray Companies reiterated a buy rating and set a $55.00 price objective on shares of Chemical Financial in a research report on Friday, October 27th. ValuEngine lowered Chemical Financial from a buy rating to a hold rating in a research report on Thursday, November 9th. Keefe, Bruyette & Woods lowered Chemical Financial from an outperform rating to a market perform rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Chemical Financial from a hold rating to a buy rating and set a $59.00 price target on the stock in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $54.07.

Shares of Chemical Financial (NASDAQ CHFC) traded down $0.11 during trading on Tuesday, hitting $53.86. The stock had a trading volume of 374,200 shares, compared to its average volume of 326,682. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $3,840.99, a price-to-earnings ratio of 18.30, a PEG ratio of 2.00 and a beta of 1.14. Chemical Financial has a 12-month low of $43.61 and a 12-month high of $58.17.

Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $175.75 million for the quarter, compared to analyst estimates of $182.78 million. Chemical Financial had a return on equity of 8.05% and a net margin of 24.23%. The company’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. analysts expect that Chemical Financial will post 2.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.12 annualized dividend and a yield of 2.08%. Chemical Financial’s payout ratio is 42.75%.

In related news, Director Ronald A. Klein sold 2,619 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $56.75, for a total transaction of $148,628.25. Following the transaction, the director now directly owns 9,139 shares in the company, valued at approximately $518,638.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lori A. Gwizdala sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $54.50, for a total value of $152,600.00. Following the transaction, the insider now owns 49,574 shares in the company, valued at $2,701,783. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,619 shares of company stock worth $755,964. 2.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its position in shares of Chemical Financial by 2.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,722 shares of the bank’s stock worth $277,000 after buying an additional 117 shares during the last quarter. World Asset Management Inc grew its position in shares of Chemical Financial by 2.9% in the 2nd quarter. World Asset Management Inc now owns 4,468 shares of the bank’s stock worth $216,000 after buying an additional 128 shares during the last quarter. Capstone Asset Management Co. grew its position in shares of Chemical Financial by 2.7% in the 2nd quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock worth $257,000 after buying an additional 140 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Chemical Financial by 3.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,622 shares of the bank’s stock worth $272,000 after buying an additional 205 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Chemical Financial by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,470 shares of the bank’s stock worth $1,911,000 after buying an additional 299 shares during the last quarter. Institutional investors and hedge funds own 78.44% of the company’s stock.

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Chemical Financial 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.

Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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