Bank of Montreal Can Buys 1,720 Shares of Chemical Financial Co. (CHFC)

Bank of Montreal Can grew its holdings in Chemical Financial Co. (NASDAQ:CHFC) by 31.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,245 shares of the bank’s stock after buying an additional 1,720 shares during the quarter. Bank of Montreal Can’s holdings in Chemical Financial were worth $387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation acquired a new stake in shares of Chemical Financial in the 3rd quarter valued at approximately $121,000. PNC Financial Services Group Inc. lifted its holdings in shares of Chemical Financial by 220.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the bank’s stock valued at $177,000 after buying an additional 2,525 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Chemical Financial by 99.2% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,164 shares of the bank’s stock valued at $218,000 after buying an additional 2,074 shares during the period. Stifel Financial Corp acquired a new stake in shares of Chemical Financial in the 2nd quarter valued at approximately $205,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Chemical Financial by 113.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock valued at $240,000 after buying an additional 2,448 shares during the period. 79.58% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on CHFC shares. BidaskClub cut Chemical Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Keefe, Bruyette & Woods cut Chemical Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. ValuEngine cut Chemical Financial from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Piper Jaffray Companies reissued a “buy” rating and issued a $62.00 price target on shares of Chemical Financial in a report on Tuesday, January 9th. Finally, Zacks Investment Research raised Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Chemical Financial presently has a consensus rating of “Hold” and a consensus price target of $57.29.

In related news, insider Gregory R. Bixby sold 3,500 shares of Chemical Financial stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $57.05, for a total transaction of $199,675.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David T. Provost acquired 3,356 shares of Chemical Financial stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average cost of $58.50 per share, with a total value of $196,326.00. Following the completion of the acquisition, the chief executive officer now owns 96,296 shares of the company’s stock, valued at approximately $5,633,316. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 73,355 shares of company stock valued at $4,282,061. 2.20% of the stock is currently owned by insiders.

Chemical Financial Co. (NASDAQ:CHFC) opened at $56.08 on Friday. The stock has a market capitalization of $4,075.51, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.62 and a beta of 1.21. Chemical Financial Co. has a 1-year low of $43.61 and a 1-year high of $59.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. The firm had revenue of $178.22 million during the quarter, compared to analysts’ expectations of $183.89 million. Chemical Financial had a return on equity of 8.46% and a net margin of 19.26%. analysts predict that Chemical Financial Co. will post 3.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $1.12 annualized dividend and a yield of 2.00%. Chemical Financial’s dividend payout ratio is presently 53.59%.

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About Chemical Financial

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 (NASDAQ:CHFC)

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