Bbva Compass Bancshares Inc. decreased its holdings in shares of Chemical Financial Co. (NASDAQ:CHFC) by 11.1% during the first quarter, HoldingsChannel.com reports. The fund owned 8,895 shares of the bank’s stock after selling 1,105 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Chemical Financial were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of CHFC. Oregon Public Employees Retirement Fund raised its holdings in Chemical Financial by 3,599.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,042,104 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,013,937 shares during the period. Resources Investment Advisors Inc. purchased a new position in shares of Chemical Financial during the 4th quarter valued at $31,000. Doyle Wealth Management purchased a new position in shares of Chemical Financial during the 4th quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Chemical Financial during the 1st quarter valued at $33,000. Finally, JOYN Advisors Inc. grew its position in shares of Chemical Financial by 85.2% during the 4th quarter. JOYN Advisors Inc. now owns 941 shares of the bank’s stock valued at $34,000 after purchasing an additional 433 shares in the last quarter. 82.92% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on CHFC. BidaskClub upgraded shares of Chemical Financial from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. ValuEngine upgraded shares of Chemical Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Sandler O’Neill upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, February 8th. Finally, Raymond James set a $55.00 price target on shares of Chemical Financial and gave the company a “buy” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.71.
Chemical Financial (NASDAQ:CHFC) last announced its earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.03. Chemical Financial had a net margin of 29.14% and a return on equity of 10.14%. The company had revenue of $187.68 million during the quarter, compared to analyst estimates of $202.40 million. During the same period in the previous year, the business earned $0.97 earnings per share. Sell-side analysts forecast that Chemical Financial Co. will post 4.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a $0.34 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.36 annualized dividend and a yield of 3.37%. Chemical Financial’s dividend payout ratio (DPR) is presently 34.52%.
About Chemical Financial
Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers a range of 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.
Read More: What is an Initial Public Offering (IPO)?
Want to see what other hedge funds are holding CHFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemical Financial Co. (NASDAQ:CHFC).
Receive News & Ratings for Chemical Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemical Financial and related companies with MarketBeat.com's FREE daily email newsletter.