Chemical Financial Corporation (NASDAQ:CHFC) – Equities researchers at Boenning Scattergood dropped their Q1 2017 EPS estimates for shares of Chemical Financial Corporation in a note issued to investors on Friday. Boenning Scattergood analyst S. Beury now expects that the firm will post earnings of $0.71 per share for the quarter, down from their previous forecast of $0.72. Boenning Scattergood also issued estimates for Chemical Financial Corporation’s Q2 2017 earnings at $0.78 EPS, Q3 2017 earnings at $0.81 EPS, Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.12 EPS and FY2018 earnings at $3.48 EPS.
A number of other brokerages also recently issued reports on CHFC. Zacks Investment Research downgraded Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th. Hilliard Lyons downgraded Chemical Financial Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the company from $49.00 to $55.00 in a research report on Tuesday, December 20th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $47.40.
Shares of Chemical Financial Corporation (NASDAQ:CHFC) opened at 49.49 on Monday. Chemical Financial Corporation has a 12 month low of $30.00 and a 12 month high of $55.55. The stock has a 50 day moving average price of $52.78 and a 200-day moving average price of $46.79. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 22.81 and a beta of 1.13.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHFC. Pacer Advisors Inc. acquired a new position in Chemical Financial Corporation during the third quarter worth approximately $114,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Chemical Financial Corporation by 4.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,783 shares of the company’s stock valued at $123,000 after buying an additional 114 shares during the period. FineMark National Bank & Trust boosted its position in shares of Chemical Financial Corporation by 0.6% in the third quarter. FineMark National Bank & Trust now owns 3,105 shares of the company’s stock valued at $137,000 after buying an additional 19 shares during the period. Integrated Investment Consultants LLC purchased a new position in shares of Chemical Financial Corporation during the third quarter valued at about $164,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Chemical Financial Corporation during the third quarter valued at about $166,000. 74.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Lori A. Gwizdala sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $51.08, for a total transaction of $25,540.00. Following the transaction, the insider now owns 48,395 shares of the company’s stock, valued at $2,472,016.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Larry D. Stauffer sold 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $51.89, for a total value of $199,776.50. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
About Chemical Financial Corporation
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. Its 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, debit cards, access to insurance and investment products, corporate and personal wealth management services, and other banking services.