Wall Street analysts predict that Chemical Financial Co. (NASDAQ:CHFC) will post sales of $185.62 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Chemical Financial’s earnings, with the highest sales estimate coming in at $190.80 million and the lowest estimate coming in at $180.67 million. Chemical Financial posted sales of $168.11 million in the same quarter last year, which indicates a positive year over year growth rate of 10.4%. The firm is expected to report its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Chemical Financial will report full-year sales of $185.62 million for the current financial year, with estimates ranging from $748.84 million to $784.20 million. For the next financial year, analysts expect that the company will report sales of $822.91 million per share, with estimates ranging from $793.75 million to $847.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last released 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. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. The company had revenue of $178.22 million during the quarter, compared to the consensus estimate of $183.89 million.
Shares of Chemical Financial (NASDAQ CHFC) opened at $57.82 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. Chemical Financial has a 52 week low of $43.61 and a 52 week high of $59.83. The stock has a market cap of $4,122.57, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, March 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.94%. Chemical Financial’s payout ratio is currently 53.59%.
In other news, insider Lori A. Gwizdala sold 5,594 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $59.27, for a total transaction of $331,556.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Dennis L. Klaeser sold 53,536 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $58.48, for a total transaction of $3,130,785.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,155 shares of company stock worth $4,436,061. Corporate insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. raised its holdings in Chemical Financial by 143.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,279,260 shares of the bank’s stock valued at $119,114,000 after acquiring an additional 1,341,400 shares in the last quarter. Schroder Investment Management Group raised its holdings in Chemical Financial by 18.3% in the fourth quarter. Schroder Investment Management Group now owns 1,981,132 shares of the bank’s stock valued at $105,931,000 after acquiring an additional 306,595 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new stake in Chemical Financial in the fourth quarter valued at $11,526,000. Castine Capital Management LLC acquired a new stake in Chemical Financial in the third quarter valued at $7,839,000. Finally, Franklin Resources Inc. raised its holdings in Chemical Financial by 5.8% in the fourth quarter. Franklin Resources Inc. now owns 2,686,176 shares of the bank’s stock valued at $143,630,000 after acquiring an additional 146,917 shares in the last quarter. 78.37% of the stock is currently 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.
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