Wall Street analysts expect Chemical Financial Co. (NASDAQ:CHFC) to announce earnings per share (EPS) of $1.00 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Chemical Financial’s earnings, with estimates ranging from $0.96 to $1.04. Chemical Financial posted earnings of $0.97 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, April 23rd.
According to Zacks, analysts expect that Chemical Financial will report full year earnings of $4.19 per share for the current year, with EPS estimates ranging from $4.02 to $4.40. For the next fiscal year, analysts expect that the company will post earnings of $4.74 per share, with EPS estimates ranging from $4.36 to $5.54. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last announced 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 net margin of 30.57% and a return on equity of 10.20%. The business had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $200.12 million. During the same quarter in the prior year, the company posted $0.87 earnings per share.
A number of equities analysts have issued reports on the company. ValuEngine downgraded Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. Zacks Investment Research lowered shares of Chemical Financial from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Stephens restated a “buy” rating and issued a $52.00 price target on shares of Chemical Financial in a research report on Wednesday, December 19th. BidaskClub upgraded shares of Chemical Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Raymond James restated a “buy” rating and issued a $53.00 price target on shares of Chemical Financial in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.60.
CHFC traded up $0.23 during trading hours on Friday, hitting $45.44. 26,640 shares of the company’s stock were exchanged, compared to its average volume of 628,493. Chemical Financial has a 1-year low of $34.62 and a 1-year high of $59.46. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.19 and a beta of 1.42. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, February 28th. Chemical Financial’s payout ratio is currently 34.52%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Chemical Financial by 3.1% during the 4th quarter. BlackRock Inc. now owns 8,480,147 shares of the bank’s stock worth $310,458,000 after acquiring an additional 253,627 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Chemical Financial by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,679,182 shares of the bank’s stock worth $356,668,000 after acquiring an additional 101,931 shares during the last quarter. Vanguard Group Inc boosted its holdings in Chemical Financial by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 6,679,182 shares of the bank’s stock worth $356,668,000 after acquiring an additional 101,931 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Chemical Financial by 24.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,658,834 shares of the bank’s stock worth $97,339,000 after acquiring an additional 529,790 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Chemical Financial by 4.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,522,506 shares of the bank’s stock worth $81,301,000 after acquiring an additional 66,651 shares during the last quarter. 86.13% of the stock is currently owned by hedge funds and other institutional investors.
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.
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