Wells Fargo & Company MN decreased its stake in shares of Chemical Financial Co. (NASDAQ:CHFC) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,557 shares of the bank’s stock after selling 4,540 shares during the quarter. Wells Fargo & Company MN’s holdings in Chemical Financial were worth $7,997,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Aperio Group LLC increased its stake in Chemical Financial by 5.4% during the 4th quarter. Aperio Group LLC now owns 19,031 shares of the bank’s stock valued at $1,018,000 after purchasing an additional 983 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Chemical Financial by 2.9% in the third quarter. BNP Paribas Arbitrage SA now owns 36,680 shares of the bank’s stock worth $1,917,000 after acquiring an additional 1,050 shares during the period. Pacer Advisors Inc. increased its stake in shares of Chemical Financial by 11.6% in the third quarter. Pacer Advisors Inc. now owns 10,404 shares of the bank’s stock worth $544,000 after acquiring an additional 1,078 shares during the period. Salzhauer Michael increased its stake in shares of Chemical Financial by 11.9% in the third quarter. Salzhauer Michael now owns 11,050 shares of the bank’s stock worth $577,000 after acquiring an additional 1,172 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Chemical Financial by 0.4% in the third quarter. Principal Financial Group Inc. now owns 300,718 shares of the bank’s stock worth $15,715,000 after acquiring an additional 1,201 shares during the period. Institutional investors and hedge funds own 80.05% of the company’s stock.
In related news, insider Lori A. Gwizdala sold 5,594 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $59.27, for a total transaction of $331,556.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David T. Provost purchased 3,356 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average cost of $58.50 per share, for a total transaction of $196,326.00. Following the completion of the acquisition, the chief executive officer now directly owns 96,296 shares of the company’s stock, valued at approximately $5,633,316. The disclosure for this purchase can be found here. Insiders have sold 67,236 shares of company stock worth $3,933,758 over the last three months. 2.20% of the stock is currently owned by insiders.
Shares of CHFC stock opened at $52.62 on Friday. The firm has a market cap of $3,960.17, a price-to-earnings ratio of 25.18, a PEG ratio of 1.58 and a beta of 1.22. Chemical Financial Co. has a 52 week low of $43.61 and a 52 week high of $59.83. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.
Chemical Financial (NASDAQ:CHFC) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. Chemical Financial had a net margin of 19.26% and a return on equity of 8.46%. The firm had revenue of $178.22 million for the quarter, compared to the consensus estimate of $183.89 million. research analysts forecast that Chemical Financial Co. will post 3.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, March 1st. Chemical Financial’s dividend payout ratio (DPR) is presently 53.59%.
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About Chemical Financial
Chemical Financial Corporation is a financial holding company. The Company operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers banking and fiduciary products and services. These products and services include 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, access to insurance and investment products, corporate and personal wealth management services, and other banking services.
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