Chemical Financial Co. (CHFC) Expected to Announce Earnings of $0.99 Per Share

Wall Street analysts forecast that Chemical Financial Co. (NASDAQ:CHFC) will post $0.99 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Chemical Financial’s earnings, with the highest EPS estimate coming in at $1.04 and the lowest estimate coming in at $0.97. Chemical Financial reported earnings of $0.97 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The business is expected to announce its next earnings results after the market closes on Tuesday, April 23rd.

On average, analysts expect that Chemical Financial will report full-year earnings of $4.21 per share for the current financial year, with EPS estimates ranging from $4.14 to $4.31. For the next financial year, analysts anticipate that the firm will report earnings of $4.84 per share, with EPS estimates ranging from $4.58 to $5.54. Zacks’ earnings per share averages are a mean average based on a survey of research firms 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, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.02. The company had revenue of $195.50 million during the quarter, compared to the consensus estimate of $200.12 million. Chemical Financial had a net margin of 30.57% and a return on equity of 10.20%. During the same quarter in the prior year, the company posted $0.87 earnings per share.

Several analysts have recently commented on CHFC shares. FIG Partners upgraded shares of Chemical Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Tuesday, March 26th. BidaskClub downgraded shares of Chemical Financial from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research downgraded shares of Chemical Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Keefe, Bruyette & Woods upgraded shares of Chemical Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $59.00 in a report on Tuesday, January 29th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 12th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Chemical Financial presently has an average rating of “Hold” and an average price target of $52.67.

Shares of CHFC stock opened at $44.15 on Thursday. The stock has a market capitalization of $3.16 billion, a PE ratio of 11.26, a PEG ratio of 1.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Chemical Financial has a one year low of $34.62 and a one year high of $59.46.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Resources Investment Advisors Inc. purchased a new position in shares of Chemical Financial in the fourth quarter worth about $31,000. Doyle Wealth Management purchased a new position in shares of Chemical Financial in the fourth quarter worth about $32,000. JOYN Advisors Inc. increased its stake in shares of Chemical Financial by 85.2% in the fourth quarter. JOYN Advisors Inc. now owns 941 shares of the bank’s stock worth $34,000 after purchasing an additional 433 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Chemical Financial in the fourth quarter worth about $37,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Chemical Financial in the third quarter worth about $125,000. Institutional investors and hedge funds own 83.98% of the company’s stock.

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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Earnings History and Estimates for Chemical Financial (NASDAQ:CHFC)

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