Thrivent Financial For Lutherans reduced its stake in Chemical Financial Co. (NASDAQ:CHFC) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 402,135 shares of the bank’s stock after selling 242 shares during the period. Thrivent Financial For Lutherans owned about 0.57% of Chemical Financial worth $20,569,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in CHFC. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Chemical Financial by 0.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 12,247 shares of the bank’s stock valued at $626,000 after buying an additional 89 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Chemical Financial by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,444 shares of the bank’s stock valued at $566,000 after buying an additional 95 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Chemical Financial by 3.0% in the first quarter. World Asset Management Inc now owns 4,340 shares of the bank’s stock valued at $222,000 after buying an additional 127 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Chemical Financial by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,846 shares of the bank’s stock valued at $1,629,000 after buying an additional 130 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Chemical Financial by 4.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,892 shares of the bank’s stock valued at $148,000 after buying an additional 131 shares in the last quarter. 74.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chemical Financial Co. (NASDAQ:CHFC) traded up 2.97% during midday trading on Thursday, reaching $47.48. 208,728 shares of the company traded hands. The firm has a market capitalization of $3.38 billion, a PE ratio of 20.82 and a beta of 1.11. The stock has a 50 day moving average price of $47.36 and a 200 day moving average price of $50.69. Chemical Financial Co. has a 1-year low of $34.82 and a 1-year high of $55.55.
Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, April 25th. The bank reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $168.11 million for the quarter, compared to analyst estimates of $173.51 million. Chemical Financial had a return on equity of 7.33% and a net margin of 28.32%. Analysts expect that Chemical Financial Co. will post $3.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.34%. Chemical Financial’s payout ratio is currently 50.47%.
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Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods set a $55.00 price target on shares of Chemical Financial and gave the stock a “buy” rating in a research report on Saturday, April 15th. Zacks Investment Research cut shares of Chemical Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Finally, Hilliard Lyons upgraded shares of Chemical Financial to a “buy” rating and boosted their price target for the stock from $54.00 to $55.00 in a research report on Friday, April 28th.
In other Chemical Financial news, Director Richard M. Lievense sold 13,351 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $47.87, for a total value of $639,112.37. Following the transaction, the director now owns 59,192 shares in the company, valued at approximately $2,833,521.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.
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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