Chemical Financial Co. (NASDAQ:CHFC) – Equities research analysts at FIG Partners reduced their Q1 2019 earnings estimates for shares of Chemical Financial in a research report issued on Monday, February 4th. FIG Partners analyst J. Rodis now anticipates that the bank will post earnings of $0.97 per share for the quarter, down from their previous forecast of $0.98. FIG Partners also issued estimates for Chemical Financial’s Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $1.03 EPS, Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $4.19 EPS and FY2020 earnings at $4.58 EPS.
Chemical Financial (NASDAQ:CHFC) last released its earnings results on Monday, January 28th. The bank reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. The business had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $200.12 million. Chemical Financial had a return on equity of 10.20% and a net margin of 30.57%. During the same quarter in the prior year, the firm earned $0.87 earnings per share.
A number of other research analysts have also recently issued reports on the company. ValuEngine cut Chemical Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, October 26th. Zacks Investment Research cut Chemical Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Stephens reaffirmed a “buy” rating and set a $52.00 price objective on shares of Chemical Financial in a research note on Wednesday, December 19th. BidaskClub raised Chemical Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $53.00 price objective on shares of Chemical Financial in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $57.25.
CHFC opened at $45.07 on Wednesday. The firm has a market capitalization of $3.23 billion, a P/E ratio of 11.44, a PEG ratio of 1.20 and a beta of 1.42. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. Chemical Financial has a 52 week low of $34.62 and a 52 week high of $59.46.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC bought a new stake in shares of Chemical Financial in the third quarter worth about $125,000. Huntington National Bank grew its stake in shares of Chemical Financial by 23.9% in the fourth quarter. Huntington National Bank now owns 2,490 shares of the bank’s stock worth $91,000 after purchasing an additional 480 shares during the last quarter. Polaris Greystone Financial Group LLC bought a new stake in shares of Chemical Financial in the third quarter worth about $194,000. Verition Fund Management LLC bought a new stake in shares of Chemical Financial in the third quarter worth about $222,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Chemical Financial in the third quarter worth about $256,000. 83.80% of the stock is currently owned by institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.34 dividend. The ex-dividend date is Thursday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 3.02%. Chemical Financial’s payout ratio is presently 34.52%.
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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