Chemical Financial (NASDAQ:CHFC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded 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. Hilliard Lyons upgraded Chemical Financial from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. DA Davidson boosted their price target on Chemical Financial to $70.00 and gave the company an “average” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $63.00 price target on shares of Chemical Financial in a report on Tuesday, February 27th. Finally, Boenning Scattergood set a $43.00 price target on Chemical Financial and gave the company a “sell” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $58.57.
Shares of Chemical Financial (NASDAQ:CHFC) traded down $1.07 during trading hours on Wednesday, hitting $57.42. The company had a trading volume of 257,320 shares, compared to its average volume of 315,084. 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 has a 1-year low of $43.61 and a 1-year high of $59.83. The stock has a market cap of $4,090.00, a P/E ratio of 20.96, a P/E/G ratio of 1.67 and a beta of 1.22.
In related news, VP Dennis L. Klaeser sold 53,536 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lori A. Gwizdala sold 5,594 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $59.27, for a total value of $331,556.38. The disclosure for this sale can be found here. Insiders have sold a total of 67,236 shares of company stock valued at $3,933,758 in the last 90 days. Insiders own 2.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in Chemical Financial by 10.6% during the 3rd quarter. Sei Investments Co. now owns 22,483 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 2,154 shares during the period. Dimensional Fund Advisors LP boosted its position in Chemical Financial by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,971,100 shares of the bank’s stock valued at $155,269,000 after purchasing an additional 44,421 shares during the period. Swiss National Bank boosted its position in Chemical Financial by 2.3% during the 4th quarter. Swiss National Bank now owns 121,103 shares of the bank’s stock valued at $6,475,000 after purchasing an additional 2,700 shares during the period. Sterling Capital Management LLC boosted its position in Chemical Financial by 1.0% during the 3rd quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock valued at $25,165,000 after purchasing an additional 4,836 shares during the period. Finally, Legal & General Group Plc boosted its position in Chemical Financial by 15.4% during the 3rd quarter. Legal & General Group Plc now owns 66,093 shares of the bank’s stock valued at $3,456,000 after purchasing an additional 8,829 shares during the period. Institutional investors and hedge funds own 80.08% of the company’s stock.
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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