Shares of Chemung Financial Corp. (NASDAQ:CHMG) have earned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Brokerages have set a one year consensus price objective of $51.00 for the company and are predicting that the company will post $0.93 EPS for the current quarter, according to Zacks. Zacks has also given Chemung Financial an industry rank of 159 out of 256 based on the ratings given to related companies.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Chemung Financial from a “sell” rating to a “hold” rating in a report on Monday, June 3rd. Sandler O’Neill cut Chemung Financial from a “buy” rating to a “hold” rating in a report on Monday, April 22nd.
CHMG stock traded down $0.01 during trading on Thursday, hitting $47.64. The stock had a trading volume of 6,648 shares, compared to its average volume of 8,622. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.90. Chemung Financial has a twelve month low of $36.87 and a twelve month high of $53.25. The stock has a market cap of $230.34 million, a PE ratio of 12.54 and a beta of 0.21. The business’s 50-day moving average price is $46.99.
Chemung Financial (NASDAQ:CHMG) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.04). Chemung Financial had a return on equity of 10.95% and a net margin of 22.32%. The firm had revenue of $20.09 million during the quarter, compared to analyst estimates of $20.32 million. As a group, equities analysts anticipate that Chemung Financial will post 3.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, June 14th. Chemung Financial’s dividend payout ratio is currently 27.37%.
Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Chemung Financial during the 1st quarter worth approximately $185,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Chemung Financial by 222.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,882 shares of the bank’s stock worth $316,000 after purchasing an additional 4,749 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Chemung Financial by 56.7% during the 1st quarter. Acadian Asset Management LLC now owns 9,376 shares of the bank’s stock worth $440,000 after purchasing an additional 3,394 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of Chemung Financial by 26.3% during the 1st quarter. Martingale Asset Management L P now owns 18,705 shares of the bank’s stock worth $878,000 after purchasing an additional 3,900 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Chemung Financial by 15.1% during the 1st quarter. LSV Asset Management now owns 17,550 shares of the bank’s stock worth $823,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 35.23% of the company’s stock.
About Chemung Financial
Chemung Financial Corporation operates as a bank. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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