Equities Analysts Issue Forecasts for Chemical Financial Co.’s FY2018 Earnings (CHFC)

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Chemical Financial Co. (NASDAQ:CHFC) – Research analysts at FIG Partners cut their FY2018 earnings estimates for shares of Chemical Financial in a note issued to investors on Monday, October 29th. FIG Partners analyst J. Rodis now anticipates that the bank will earn $3.89 per share for the year, down from their prior estimate of $3.92. FIG Partners also issued estimates for Chemical Financial’s Q4 2018 earnings at $0.98 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $1.04 EPS, Q3 2019 earnings at $1.06 EPS and FY2019 earnings at $4.15 EPS.

A number of other analysts have also recently commented on the company. BidaskClub upgraded Chemical Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research lowered Chemical Financial from a “hold” rating to a “sell” rating in a report on Friday, October 26th. ValuEngine lowered Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. Raymond James reissued a “buy” rating and set a $53.00 price target on shares of Chemical Financial in a report on Thursday, October 25th. Finally, Boenning Scattergood raised Chemical Financial from an “under perform” rating to a “neutral” rating in a report on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $59.00.

CHFC opened at $46.10 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.92. Chemical Financial has a one year low of $41.97 and a one year high of $59.83. The stock has a market cap of $3.13 billion, a PE ratio of 15.07, a PEG ratio of 1.26 and a beta of 1.06.

Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.98 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.01). Chemical Financial had a return on equity of 9.98% and a net margin of 24.78%. The firm had revenue of $197.40 million for the quarter, compared to analyst estimates of $200.16 million. During the same quarter last year, the firm posted $0.79 EPS.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.95%. Chemical Financial’s payout ratio is 44.44%.

Hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in shares of Chemical Financial by 260.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,193 shares of the bank’s stock valued at $735,000 after acquiring an additional 9,536 shares during the period. Cortina Asset Management LLC lifted its position in shares of Chemical Financial by 0.6% during the 2nd quarter. Cortina Asset Management LLC now owns 281,227 shares of the bank’s stock valued at $15,656,000 after acquiring an additional 1,731 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Chemical Financial by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 442,454 shares of the bank’s stock valued at $24,632,000 after acquiring an additional 23,478 shares during the period. BlackRock Inc. lifted its position in shares of Chemical Financial by 5.8% during the 2nd quarter. BlackRock Inc. now owns 8,029,543 shares of the bank’s stock valued at $447,003,000 after acquiring an additional 440,300 shares during the period. Finally, MetLife Investment Advisors LLC lifted its position in shares of Chemical Financial by 2.1% during the 2nd quarter. MetLife Investment Advisors LLC now owns 77,393 shares of the bank’s stock valued at $4,308,000 after acquiring an additional 1,611 shares during the period. Institutional investors own 83.28% of the company’s stock.

About Chemical Financial

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.

Further Reading: Ex-Dividend

Earnings History and Estimates for Chemical Financial (NASDAQ:CHFC)

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