Analysts expect Chemical Financial Co. (NASDAQ:CHFC) to report earnings of $1.02 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Chemical Financial’s earnings, with the highest EPS estimate coming in at $1.03 and the lowest estimate coming in at $0.99. Chemical Financial posted earnings per share of $0.96 in the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The company is scheduled to issue its next earnings report on Tuesday, July 23rd.
According to Zacks, analysts expect that Chemical Financial will report full-year earnings of $4.14 per share for the current fiscal year, with EPS estimates ranging from $3.98 to $4.29. For the next fiscal year, analysts anticipate that the business will report earnings of $4.78 per share, with EPS estimates ranging from $4.58 to $5.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Tuesday, April 23rd. The bank reported $1.02 EPS for the quarter, topping the consensus estimate of $0.99 by $0.03. The company had revenue of $187.68 million during the quarter, compared to the consensus estimate of $202.40 million. Chemical Financial had a net margin of 29.14% and a return on equity of 10.14%. During the same period in the previous year, the firm posted $0.97 earnings per share.
In other news, insider Thomas C. Shafer acquired 6,380 shares of Chemical Financial stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $39.12 per share, with a total value of $249,585.60. Following the transaction, the insider now owns 31,555 shares of the company’s stock, valued at approximately $1,234,431.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dennis L. Klaeser acquired 10,018 shares of Chemical Financial stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $39.15 per share, with a total value of $392,204.70. Following the completion of the transaction, the vice president now directly owns 59,431 shares in the company, valued at approximately $2,326,723.65. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 26,498 shares of company stock valued at $1,037,609. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its position in Chemical Financial by 3,599.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,042,104 shares of the bank’s stock worth $28,000 after purchasing an additional 1,013,937 shares in the last quarter. Resources Investment Advisors Inc. bought a new stake in Chemical Financial in the 4th quarter worth about $31,000. Doyle Wealth Management bought a new stake in Chemical Financial in the 4th quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Chemical Financial in the 1st quarter worth about $33,000. Finally, JOYN Advisors Inc. grew its position in Chemical Financial by 85.2% in the 4th quarter. JOYN Advisors Inc. now owns 941 shares of the bank’s stock worth $34,000 after purchasing an additional 433 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.
NASDAQ:CHFC opened at $40.61 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $39.92. The company has a market capitalization of $2.89 billion, a P/E ratio of 10.31, a PEG ratio of 1.06 and a beta of 1.48. Chemical Financial has a one year low of $34.62 and a one year high of $59.10.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, June 6th. 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 a range of 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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