Insider Buying: Chemical Financial Co. (NASDAQ:CHFC) VP Purchases 10,018 Shares of Stock

Chemical Financial Co. (NASDAQ:CHFC) VP Dennis L. Klaeser purchased 10,018 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $39.15 per share, for a total transaction of $392,204.70. Following the acquisition, the vice president now directly owns 59,431 shares of the company’s stock, valued at approximately $2,326,723.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ CHFC traded up $0.26 during mid-day trading on Friday, reaching $39.40. The company had a trading volume of 624,776 shares, compared to its average volume of 623,395. Chemical Financial Co. has a twelve month low of $34.62 and a twelve month high of $59.46. 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 company has a market capitalization of $2.77 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.48.

Chemical Financial (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.03. Chemical Financial had a net margin of 29.14% and a return on equity of 10.14%. The business had revenue of $187.68 million for the quarter, compared to the consensus estimate of $202.40 million. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, analysts predict that Chemical Financial Co. will post 4.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Thursday, June 6th. Chemical Financial’s dividend payout ratio (DPR) is presently 34.52%.

Several hedge funds and other institutional investors have recently bought and sold shares of CHFC. Belpointe Asset Management LLC bought a new stake in Chemical Financial during the first quarter valued at about $111,000. Marshall Wace North America L.P. boosted its holdings in Chemical Financial by 977.4% during the first quarter. Marshall Wace North America L.P. now owns 165,323 shares of the bank’s stock valued at $6,805,000 after acquiring an additional 149,979 shares during the period. Marshall Wace LLP boosted its holdings in Chemical Financial by 86.6% during the first quarter. Marshall Wace LLP now owns 257,998 shares of the bank’s stock valued at $10,619,000 after acquiring an additional 119,742 shares during the period. Nordea Investment Management AB boosted its holdings in Chemical Financial by 113.0% during the first quarter. Nordea Investment Management AB now owns 202,426 shares of the bank’s stock valued at $8,331,000 after acquiring an additional 107,404 shares during the period. Finally, FMR LLC boosted its holdings in Chemical Financial by 20.1% during the first quarter. FMR LLC now owns 679,014 shares of the bank’s stock valued at $27,949,000 after acquiring an additional 113,525 shares during the period. 86.70% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. BidaskClub downgraded shares of Chemical Financial from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Friday, March 29th. ValuEngine downgraded shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 12th. Piper Jaffray Companies set a $53.00 target price on shares of Chemical Financial and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, FIG Partners raised shares of Chemical Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $52.71.

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Chemical Financial Company Profile

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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