Chemical Financial (NASDAQ:CHFC) Raised to Sell at BidaskClub

Chemical Financial (NASDAQ:CHFC) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Monday, April 1st, BidAskClub reports.

Other research analysts have also issued reports about the stock. Sandler O’Neill upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, February 8th. Raymond James set a $55.00 price target on shares of Chemical Financial and gave the company a “buy” rating in a research report on Tuesday, January 29th. Stephens reissued a “buy” rating and set a $52.00 price objective on shares of Chemical Financial in a research note on Wednesday, December 19th. Zacks Investment Research raised shares of Chemical Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Friday, March 29th. Finally, Keefe, Bruyette & Woods raised shares of Chemical Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $59.00 in a research note on Tuesday, January 29th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Chemical Financial has an average rating of “Hold” and an average price target of $52.67.

CHFC traded down $0.34 on Monday, hitting $43.28. 66,238 shares of the company were exchanged, compared to its average volume of 691,087. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. Chemical Financial has a fifty-two week low of $34.62 and a fifty-two week high of $59.46. The firm has a market capitalization of $3.16 billion, a P/E ratio of 10.92, a PEG ratio of 1.16 and a beta of 1.42.

Chemical Financial (NASDAQ:CHFC) last issued its earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.03. Chemical Financial had a net margin of 30.57% and a return on equity of 10.20%. The company had revenue of $187.68 million for the quarter, compared to analyst estimates of $202.40 million. During the same period in the prior year, the business posted $0.97 earnings per share. Analysts predict that Chemical Financial will post 4.21 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Chemical Financial by 3.1% during the fourth quarter. BlackRock Inc. now owns 8,480,147 shares of the bank’s stock worth $310,458,000 after purchasing an additional 253,627 shares during the period. Vanguard Group Inc. grew its holdings in Chemical Financial by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,679,182 shares of the bank’s stock valued at $356,668,000 after purchasing an additional 101,931 shares in the last quarter. Vanguard Group Inc grew its holdings in Chemical Financial by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 6,679,182 shares of the bank’s stock valued at $356,668,000 after purchasing an additional 101,931 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Chemical Financial by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,189,834 shares of the bank’s stock valued at $116,781,000 after purchasing an additional 185,916 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Chemical Financial by 24.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,658,834 shares of the bank’s stock valued at $97,339,000 after purchasing an additional 529,790 shares in the last quarter. 83.98% of the stock is currently owned by institutional investors.

About Chemical Financial

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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Analyst Recommendations for Chemical Financial (NASDAQ:CHFC)

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