Chemical Financial Co. (NASDAQ:CHFC) – Equities research analysts at FIG Partners cut their Q1 2019 EPS estimates for Chemical Financial in a research report issued to clients and investors on Monday, February 4th. FIG Partners analyst J. Rodis now forecasts that the bank will post earnings of $0.97 per share for the quarter, down from their prior estimate 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.
A number of other brokerages also recently issued reports on CHFC. ValuEngine downgraded Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. Zacks Investment Research downgraded Chemical Financial from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Stephens reaffirmed a “buy” rating and set a $52.00 price target on shares of Chemical Financial in a report on Wednesday, December 19th. BidaskClub raised Chemical Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $53.00 price target on shares of Chemical Financial in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.25.
Chemical Financial (NASDAQ:CHFC) last released its earnings results on Monday, January 28th. The bank reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.02. Chemical Financial had a return on equity of 10.20% and a net margin of 30.57%. The business had revenue of $195.50 million for the quarter, compared to the consensus estimate of $200.12 million. During the same period in the previous year, the company posted $0.87 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, February 28th. Chemical Financial’s dividend payout ratio (DPR) is presently 34.52%.
A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its position in Chemical Financial by 2.0% during the fourth quarter. Comerica Bank now owns 58,203 shares of the bank’s stock valued at $2,628,000 after acquiring an additional 1,131 shares during the last quarter. Dean Investment Associates LLC purchased a new stake in Chemical Financial during the fourth quarter valued at $6,166,000. Chatham Capital Group Inc. increased its position in Chemical Financial by 10.0% during the fourth quarter. Chatham Capital Group Inc. now owns 32,892 shares of the bank’s stock valued at $1,204,000 after acquiring an additional 2,997 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Chemical Financial by 3,599.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,042,104 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,013,937 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Chemical Financial by 158.3% during the fourth quarter. Victory Capital Management Inc. now owns 618,621 shares of the bank’s stock valued at $22,648,000 after acquiring an additional 379,151 shares during the last quarter. Institutional investors own 83.80% of the company’s stock.
Chemical Financial Company Profile
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.
See Also: Price to Earnings Ratio (PE)
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