Geode Capital Management LLC Has $30.07 Million Stake in Chemical Financial Co. (NASDAQ:CHFC)

Geode Capital Management LLC grew its holdings in shares of Chemical Financial Co. (NASDAQ:CHFC) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 821,489 shares of the bank’s stock after purchasing an additional 64,505 shares during the quarter. Geode Capital Management LLC owned about 1.15% of Chemical Financial worth $30,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CHFC. JPMorgan Chase & Co. grew its position in Chemical Financial by 50.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 121,539 shares of the bank’s stock worth $6,490,000 after purchasing an additional 40,876 shares during the period. Prudential Financial Inc. grew its position in Chemical Financial by 92.0% during the 3rd quarter. Prudential Financial Inc. now owns 185,694 shares of the bank’s stock worth $9,917,000 after purchasing an additional 88,957 shares during the period. BlackRock Inc. grew its position in Chemical Financial by 2.5% during the 3rd quarter. BlackRock Inc. now owns 8,226,520 shares of the bank’s stock worth $439,298,000 after purchasing an additional 196,977 shares during the period. American International Group Inc. grew its position in Chemical Financial by 1.3% during the 3rd quarter. American International Group Inc. now owns 191,189 shares of the bank’s stock worth $10,209,000 after purchasing an additional 2,417 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in Chemical Financial during the 3rd quarter worth about $350,000. Institutional investors and hedge funds own 83.98% of the company’s stock.

Shares of NASDAQ:CHFC traded down $0.60 during trading on Friday, reaching $44.15. 634,700 shares of the company’s stock traded hands, compared to its average volume of 706,205. Chemical Financial Co. has a fifty-two week low of $34.62 and a fifty-two week high of $59.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.16 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.42.

Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Monday, January 28th. The bank reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. Chemical Financial had a return on equity of 10.20% and a net margin of 30.57%. The firm had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $200.12 million. During the same period last year, the firm earned $0.87 EPS. Sell-side analysts expect that Chemical Financial Co. will post 4.21 earnings per share for the current fiscal year.

Several brokerages have weighed in on CHFC. BidaskClub raised Chemical Financial from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research downgraded Chemical Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Sandler O’Neill raised Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, February 8th. Raymond James set a $55.00 target price on Chemical Financial and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, FIG Partners upgraded Chemical Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, March 26th. 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $52.67.

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Chemical Financial 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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Institutional Ownership by Quarter for Chemical Financial (NASDAQ:CHFC)

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