Shares of Chemung Financial Corp. (NASDAQ:CHMG) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Zacks has also assigned Chemung Financial an industry rank of 202 out of 265 based on the ratings given to its competitors.
CHMG has been the subject of a number of recent research reports. Sandler O’Neill raised Chemung Financial from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, February 20th. ValuEngine lowered Chemung Financial from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, BidaskClub raised Chemung Financial from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 21st.
Hedge funds have recently bought and sold shares of the business. Chemung Canal Trust Co. grew its holdings in shares of Chemung Financial by 8.7% during the 4th quarter. Chemung Canal Trust Co. now owns 431,685 shares of the bank’s stock worth $20,764,000 after acquiring an additional 34,451 shares during the period. Basswood Capital Management L.L.C. grew its holdings in shares of Chemung Financial by 8.6% during the 4th quarter. Basswood Capital Management L.L.C. now owns 167,715 shares of the bank’s stock worth $8,067,000 after acquiring an additional 13,235 shares during the period. Vanguard Group Inc. grew its holdings in shares of Chemung Financial by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 109,852 shares of the bank’s stock worth $4,491,000 after acquiring an additional 797 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Chemung Financial by 31.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,517 shares of the bank’s stock worth $471,000 after acquiring an additional 2,771 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in shares of Chemung Financial by 58.0% during the 3rd quarter. Nationwide Fund Advisors now owns 5,177 shares of the bank’s stock worth $244,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 32.62% of the company’s stock.
Chemung Financial stock traded down $1.05 during midday trading on Monday, hitting $46.00. The stock had a trading volume of 12,006 shares, compared to its average volume of 3,050. Chemung Financial has a 12 month low of $36.01 and a 12 month high of $56.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $224.00, a price-to-earnings ratio of 29.68 and a beta of 0.17.
Chemung Financial (NASDAQ:CHMG) last released its earnings results on Monday, March 5th. The bank reported $0.15 earnings per share for the quarter. Chemung Financial had a return on equity of 6.82% and a net margin of 9.22%. The company had revenue of $20.24 million during the quarter.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 19th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, March 16th. Chemung Financial’s payout ratio is 67.10%.
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Chemung Financial Company Profile
Chemung Financial Corporation is a bank holding company. The Company, through its subsidiaries, Chemung Canal Trust Company (the Bank) and CFS Group, Inc (CFS), provides a range of banking, financing, fiduciary and other financial services to its clients. The Company manages its operations through two segments: core banking and Wealth Management Group (WMG).
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