Equities research analysts forecast that Chemical Financial Co. (NASDAQ:CHFC) will announce sales of $205.58 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Chemical Financial’s earnings, with the highest sales estimate coming in at $209.20 million and the lowest estimate coming in at $203.00 million. Chemical Financial reported sales of $195.56 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 23rd.
On average, analysts expect that Chemical Financial will report full-year sales of $1.18 billion for the current fiscal year. For the next financial year, analysts anticipate that the firm will post sales of $2.41 billion, with estimates ranging from $2.38 billion to $2.51 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Chemical Financial.
Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.03. Chemical Financial had a return on equity of 10.14% and a net margin of 29.14%. The firm had revenue of $187.68 million during the quarter, compared to analyst estimates of $202.40 million. During the same quarter in the previous year, the business earned $0.97 EPS.
Shares of Chemical Financial stock traded down $0.52 on Monday, hitting $41.21. The company’s stock had a trading volume of 346,887 shares, compared to its average volume of 655,240. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.15. Chemical Financial has a 1 year low of $34.62 and a 1 year high of $59.46. The firm has a market cap of $2.88 billion, a PE ratio of 10.46, a P/E/G ratio of 1.07 and a beta of 1.43.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.30%. Chemical Financial’s dividend payout ratio is currently 34.52%.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Chemical Financial by 6.7% during the first quarter. BlackRock Inc. now owns 9,048,051 shares of the bank’s stock valued at $372,419,000 after acquiring an additional 567,904 shares during the period. Dimensional Fund Advisors LP increased its stake in Chemical Financial by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,633,709 shares of the bank’s stock valued at $149,563,000 after buying an additional 443,875 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Chemical Financial by 24.9% in 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 buying an additional 529,790 shares during the period. Northern Trust Corp increased its stake in Chemical Financial by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,769,760 shares of the bank’s stock valued at $72,844,000 after buying an additional 11,099 shares during the period. Finally, Chemical Bank increased its stake in Chemical Financial by 0.4% in the 4th quarter. Chemical Bank now owns 1,297,769 shares of the bank’s stock valued at $47,511,000 after buying an additional 5,721 shares during the period. Institutional investors and hedge funds own 82.92% of the company’s stock.
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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