Equities analysts expect that Chemical Financial Co. (NASDAQ:CHFC) will post $195.80 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Chemical Financial’s earnings, with the lowest sales estimate coming in at $192.19 million and the highest estimate coming in at $198.10 million. Chemical Financial posted sales of $179.52 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The company is scheduled to announce its next quarterly earnings report on Tuesday, July 24th.
According to Zacks, analysts expect that Chemical Financial will report full-year sales of $788.74 million for the current year, with estimates ranging from $777.39 million to $798.00 million. For the next year, analysts anticipate that the firm will post sales of $841.54 million per share, with estimates ranging from $823.89 million to $854.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings data on Tuesday, April 24th. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Chemical Financial had a return on equity of 9.10% and a net margin of 21.15%. The company had revenue of $192.42 million for the quarter, compared to analyst estimates of $186.62 million.
In other news, Director Larry D. Stauffer sold 1,800 shares of Chemical Financial stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $56.18, for a total value of $101,124.00. Following the sale, the director now directly owns 14,053 shares of the company’s stock, valued at $789,497.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Rathbun sold 5,000 shares of Chemical Financial stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $58.86, for a total value of $294,300.00. Following the completion of the sale, the insider now directly owns 16,449 shares in the company, valued at $968,188.14. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Chemical Financial by 57.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock worth $202,000 after buying an additional 1,380 shares in the last quarter. Zeke Capital Advisors LLC purchased a new position in Chemical Financial during the fourth quarter worth approximately $236,000. Virtu Financial LLC purchased a new position in Chemical Financial during the fourth quarter worth approximately $249,000. Cambridge Investment Research Advisors Inc. lifted its position in Chemical Financial by 34.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,451 shares of the bank’s stock worth $345,000 after buying an additional 1,640 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new position in Chemical Financial during the fourth quarter worth approximately $347,000. Hedge funds and other institutional investors own 82.50% of the company’s stock.
CHFC traded down $0.12 during trading on Monday, hitting $58.86. The company’s stock had a trading volume of 221,352 shares, compared to its average volume of 316,241. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14. Chemical Financial has a twelve month low of $43.61 and a twelve month high of $59.83. The firm has a market cap of $4.18 billion, a P/E ratio of 19.24, a PEG ratio of 1.66 and a beta of 1.20.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, May 31st. Chemical Financial’s dividend payout ratio is presently 36.60%.
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.
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