Chemical Financial (CHFC) Upgraded at BidaskClub

BidaskClub upgraded shares of Chemical Financial (NASDAQ:CHFC) from a sell rating to a hold rating in a research note published on Thursday.

A number of other analysts also recently issued reports on CHFC. ValuEngine downgraded shares of Chemical Financial from a buy rating to a hold rating in a report on Wednesday, January 10th. Piper Jaffray Companies reaffirmed a buy rating and set a $62.00 price objective on shares of Chemical Financial in a report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Chemical Financial from a buy rating to a hold rating in a report on Tuesday, November 21st. Boenning Scattergood downgraded shares of Chemical Financial from a neutral rating to an under perform rating and set a $41.50 price objective for the company. in a report on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods downgraded shares of Chemical Financial from an outperform rating to a market perform rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Chemical Financial presently has a consensus rating of Hold and an average target price of $55.57.

Chemical Financial (NASDAQ CHFC) traded up $0.38 during midday trading on Thursday, hitting $56.28. 286,400 shares of the stock were exchanged, compared to its average volume of 343,367. Chemical Financial has a 52 week low of $43.61 and a 52 week high of $58.17. 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 $4,005.39, a P/E ratio of 21.48, a P/E/G ratio of 1.66 and a beta of 1.15.

Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Chemical Financial had a net margin of 24.23% and a return on equity of 8.05%. The company had revenue of $175.75 million during the quarter, compared to the consensus estimate of $182.78 million. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s revenue was up 41.1% compared to the same quarter last year. sell-side analysts predict that Chemical Financial will post 2.99 earnings per share for the current fiscal year.

In other Chemical Financial news, Director Larry D. Stauffer sold 1,900 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.19, for a total value of $101,061.00. Following the completion of the sale, the director now directly owns 15,853 shares of the company’s stock, valued at $843,221.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald A. Klein sold 2,619 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 9,139 shares of the company’s stock, valued at $518,638.25. The disclosure for this sale can be found here. Insiders sold 13,619 shares of company stock valued at $755,964 over the last three months. 2.20% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of CHFC. Optimum Investment Advisors bought a new position in shares of Chemical Financial during the third quarter valued at about $246,000. Public Employees Retirement System of Ohio raised its stake in shares of Chemical Financial by 18.6% during the third quarter. Public Employees Retirement System of Ohio now owns 46,799 shares of the bank’s stock valued at $2,446,000 after acquiring an additional 7,329 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Chemical Financial by 1.0% during the third quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock valued at $25,165,000 after acquiring an additional 4,836 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Chemical Financial by 5.6% during the third quarter. California Public Employees Retirement System now owns 160,774 shares of the bank’s stock valued at $8,402,000 after acquiring an additional 8,474 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Chemical Financial by 113.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,607 shares of the bank’s stock valued at $240,000 after acquiring an additional 2,448 shares during the last quarter. 78.42% of the stock is owned by institutional investors and hedge funds.

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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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