Oregon Public Employees Retirement Fund lifted its position in Chemical Financial Co. (NASDAQ:CHFC) by 1.4% during the 2nd quarter, Holdings Channel reports. The firm owned 28,874 shares of the bank’s stock after buying an additional 409 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Chemical Financial were worth $1,187,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CHFC. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Chemical Financial in the 1st quarter worth about $33,000. Royce & Associates LP bought a new stake in shares of Chemical Financial during the 1st quarter worth about $51,000. Toronto Dominion Bank raised its position in shares of Chemical Financial by 40.7% during the 1st quarter. Toronto Dominion Bank now owns 1,439 shares of the bank’s stock worth $59,000 after buying an additional 416 shares in the last quarter. Hilton Capital Management LLC bought a new stake in shares of Chemical Financial during the 1st quarter worth about $92,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Chemical Financial during the 1st quarter worth about $111,000. 86.66% of the stock is currently owned by institutional investors and hedge funds.
Chemical Financial stock opened at $40.14 on Wednesday. The stock has a 50 day moving average price of $41.24. The stock has a market capitalization of $2.87 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Chemical Financial Co. has a fifty-two week low of $34.62 and a fifty-two week high of $59.10.
A number of analysts have commented on the stock. BidaskClub upgraded shares of Chemical Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Raymond James set a $55.00 price target on shares of Chemical Financial and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies set a $53.00 price target on shares of Chemical Financial and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Chemical Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, ValuEngine downgraded shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $52.71.
In other news, CEO David T. Provost bought 10,100 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $39.19 per share, with a total value of $395,819.00. Following the completion of the transaction, the chief executive officer now directly owns 104,494 shares in the company, valued at approximately $4,095,119.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas C. Shafer bought 6,380 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $39.12 per share, for a total transaction of $249,585.60. Following the completion of the transaction, the insider now owns 31,555 shares of the company’s stock, valued at $1,234,431.60. The disclosure for this purchase can be found here. Over the last three months, insiders bought 26,498 shares of company stock worth $1,037,609. 1.00% of the stock is currently owned by insiders.
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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