Shares of Chemical Financial Co. (NASDAQ:CHFC) have received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.00.
CHFC has been the subject of several research reports. Sandler O’Neill upgraded Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Friday, February 8th. BidaskClub upgraded Chemical Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Keefe, Bruyette & Woods upgraded 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 research report on Tuesday, January 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded Chemical Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Finally, 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.
Several institutional investors and hedge funds have recently modified their holdings of CHFC. Credit Suisse AG raised its position in shares of Chemical Financial by 16.4% during the third quarter. Credit Suisse AG now owns 65,948 shares of the bank’s stock worth $3,521,000 after acquiring an additional 9,279 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in Chemical Financial during the third quarter worth approximately $2,731,000. JPMorgan Chase & Co. grew its stake in Chemical Financial by 50.7% during the third 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. Riverhead Capital Management LLC grew its stake in Chemical Financial by 20.1% during the third quarter. Riverhead Capital Management LLC now owns 6,564 shares of the bank’s stock worth $351,000 after purchasing an additional 1,100 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Chemical Financial during the third quarter worth approximately $353,000. Institutional investors own 83.98% of the company’s stock.
Chemical Financial (NASDAQ:CHFC) last posted its earnings results on Monday, January 28th. The bank reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $195.50 million during the quarter, compared to the consensus estimate of $200.12 million. Chemical Financial had a return on equity of 10.20% and a net margin of 30.57%. During the same period last year, the company earned $0.87 earnings per share. On average, research analysts anticipate that Chemical Financial will post 4.21 EPS for the current year.
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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