Wall Street analysts expect Chemical Financial Co. (NASDAQ:CHFC) to announce sales of $185.62 million for the current quarter, according to Zacks. Four analysts have provided estimates for Chemical Financial’s earnings, with the highest sales estimate coming in at $190.80 million and the lowest estimate coming in at $180.67 million. Chemical Financial posted sales of $168.11 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.4%. The company is expected to issue its next earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Chemical Financial will report full-year sales of $185.62 million for the current financial year, with estimates ranging from $748.84 million to $784.20 million. For the next financial year, analysts forecast that the company will post sales of $822.91 million per share, with estimates ranging from $793.75 million to $847.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The firm had revenue of $178.22 million during the quarter, compared to analysts’ expectations of $183.89 million. Chemical Financial had a return on equity of 8.46% and a net margin of 19.26%.
Several equities analysts have recently issued reports on the company. ValuEngine upgraded Chemical Financial from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Chemical Financial from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, December 26th. Hilliard Lyons upgraded Chemical Financial from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. DA Davidson boosted their target price on Chemical Financial to $70.00 and gave the stock an “average” rating in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $63.00 target price on shares of Chemical Financial in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Chemical Financial presently has a consensus rating of “Hold” and a consensus price target of $58.57.
In other Chemical Financial news, CEO David T. Provost acquired 3,356 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was acquired at an average cost of $58.50 per share, for a total transaction of $196,326.00. Following the transaction, the chief executive officer now owns 96,296 shares of the company’s stock, valued at $5,633,316. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CHFC. Stifel Financial Corp acquired a new position in shares of Chemical Financial in the 2nd quarter valued at approximately $205,000. Nationwide Fund Advisors grew its position in shares of Chemical Financial by 1.8% in the 3rd quarter. Nationwide Fund Advisors now owns 223,125 shares of the bank’s stock valued at $11,661,000 after purchasing an additional 3,936 shares during the period. Aperio Group LLC grew its position in shares of Chemical Financial by 29.3% in the 3rd quarter. Aperio Group LLC now owns 18,048 shares of the bank’s stock valued at $943,000 after purchasing an additional 4,094 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Chemical Financial in the 3rd quarter valued at approximately $313,000. Finally, State of Wisconsin Investment Board grew its position in shares of Chemical Financial by 2.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 175,001 shares of the bank’s stock valued at $9,146,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 79.20% of the company’s stock.
Shares of Chemical Financial (NASDAQ CHFC) traded up $0.27 during trading hours on Wednesday, reaching $58.26. The company’s stock had a trading volume of 21,109 shares, compared to its average volume of 308,614. The company has a market cap of $4,069.97, a PE ratio of 18.30, a P/E/G ratio of 1.62 and a beta of 1.22. Chemical Financial has a 12-month low of $43.61 and a 12-month high of $59.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. Chemical Financial’s payout ratio is currently 53.59%.
Chemical Financial Company Profile
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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