Chemung Financial (CHMG) to Release Quarterly Earnings on Thursday

Chemung Financial (NASDAQ:CHMG) is scheduled to be announcing its earnings results on Thursday, April 18th.

Chemung Financial (NASDAQ:CHMG) last posted its earnings results on Thursday, January 25th. The bank reported $0.81 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.36). The company had revenue of $23.77 million for the quarter, compared to the consensus estimate of $23.52 million. Chemung Financial had a return on equity of 12.85% and a net margin of 18.17%. On average, analysts expect Chemung Financial to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Chemung Financial Price Performance

Shares of Chemung Financial stock traded up $0.26 during midday trading on Wednesday, hitting $39.80. 2,325 shares of the company were exchanged, compared to its average volume of 6,624. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $189.05 million, a P/E ratio of 7.54 and a beta of 0.20. Chemung Financial has a 52 week low of $33.72 and a 52 week high of $51.36. The firm has a 50 day simple moving average of $42.12 and a 200-day simple moving average of $44.35.

Chemung Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were given a dividend of $0.31 per share. The ex-dividend date was Friday, March 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. Chemung Financial’s dividend payout ratio (DPR) is presently 23.48%.

Hedge Funds Weigh In On Chemung Financial

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. bought a new position in Chemung Financial in the 1st quarter valued at $28,000. BNP Paribas Arbitrage SNC acquired a new stake in shares of Chemung Financial in the 2nd quarter valued at $35,000. Bank of America Corp DE increased its stake in shares of Chemung Financial by 22,925.0% in the 1st quarter. Bank of America Corp DE now owns 921 shares of the bank’s stock valued at $38,000 after buying an additional 917 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Chemung Financial in the 2nd quarter valued at $45,000. Finally, UBS Group AG increased its stake in shares of Chemung Financial by 79.9% in the 1st quarter. UBS Group AG now owns 1,283 shares of the bank’s stock valued at $60,000 after buying an additional 570 shares during the period. Institutional investors own 47.50% of the company’s stock.

About Chemung Financial

Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.