Flinton Capital Management LLC increased its holdings in Chemical Financial Corporation (NASDAQ:CHFC) by 57.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,992 shares of the bank’s stock after acquiring an additional 2,184 shares during the quarter. Flinton Capital Management LLC’s holdings in Chemical Financial Corporation were worth $290,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its stake in Chemical Financial Corporation by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 5,722 shares of the bank’s stock worth $277,000 after acquiring an additional 117 shares during the period. World Asset Management Inc raised its holdings in Chemical Financial Corporation by 2.9% in the second quarter. World Asset Management Inc now owns 4,468 shares of the bank’s stock worth $216,000 after purchasing an additional 128 shares in the last quarter. Capstone Asset Management Co. raised its holdings in Chemical Financial Corporation by 2.7% in the second quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock worth $257,000 after purchasing an additional 140 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its holdings in Chemical Financial Corporation by 0.6% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 32,106 shares of the bank’s stock worth $1,642,000 after purchasing an additional 183 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Chemical Financial Corporation by 3.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,622 shares of the bank’s stock worth $272,000 after purchasing an additional 205 shares in the last quarter. 76.46% of the stock is owned by institutional investors.
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In other news, Director Larry D. Stauffer sold 2,110 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $47.47, for a total transaction of $100,161.70. Following the completion of the sale, the director now directly owns 13,246 shares of the company’s stock, valued at approximately $628,787.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard M. Lievense sold 14,659 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $48.20, for a total value of $706,563.80. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Shares of Chemical Financial Corporation (NASDAQ:CHFC) opened at 54.02 on Friday. The firm has a 50-day moving average price of $50.33 and a 200 day moving average price of $48.31. Chemical Financial Corporation has a 52-week low of $40.93 and a 52-week high of $55.55. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 22.64 and a beta of 1.15.
Chemical Financial Corporation (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Chemical Financial Corporation had a return on equity of 7.32% and a net margin of 22.28%. The company had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $178.21 million. Analysts expect that Chemical Financial Corporation will post $2.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, November 30th. Chemical Financial Corporation’s dividend payout ratio (DPR) is presently 49.34%.
CHFC has been the subject of a number of recent research reports. BidaskClub upgraded shares of Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. DA Davidson began coverage on shares of Chemical Financial Corporation in a report on Wednesday, July 5th. They set a “buy” rating and a $58.00 price objective on the stock. Stephens upgraded shares of Chemical Financial Corporation from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective on the stock in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Chemical Financial Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $54.00 price objective on shares of Chemical Financial Corporation in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Chemical Financial Corporation has an average rating of “Hold” and a consensus target price of $54.21.
Chemical Financial Corporation 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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