Chemical Bank (CHFC) Expected to Post Earnings of $0.92 Per Share

Equities analysts forecast that Chemical Bank (NASDAQ:CHFC) will announce $0.92 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Chemical Bank’s earnings, with estimates ranging from $0.88 to $0.98. Chemical Bank posted earnings of $0.71 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 29.6%. The business is scheduled to announce its next earnings results on Tuesday, April 24th.

On average, analysts expect that Chemical Bank will report full year earnings of $3.91 per share for the current year, with EPS estimates ranging from $3.67 to $4.09. For the next fiscal year, analysts anticipate that the company will report earnings of $4.33 per share, with EPS estimates ranging from $3.91 to $4.57. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Chemical Bank.

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Chemical Bank (NASDAQ:CHFC) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. The company had revenue of $178.22 million during the quarter, compared to analyst estimates of $183.89 million. Chemical Bank had a net margin of 19.26% and a return on equity of 8.46%.

A number of research analysts have issued reports on CHFC shares. BidaskClub downgraded shares of Chemical Bank from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of Chemical Bank from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, December 26th. Boenning Scattergood set a $43.00 price objective on shares of Chemical Bank and gave the company a “sell” rating in a research report on Tuesday, January 2nd. Piper Jaffray reissued a “buy” rating and set a $62.00 price objective on shares of Chemical Bank in a research report on Tuesday, January 9th. Finally, ValuEngine downgraded shares of Chemical Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $58.57.

Shares of Chemical Bank stock opened at $54.23 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3,866.76, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.54 and a beta of 1.19. Chemical Bank has a 12-month low of $43.61 and a 12-month high of $59.83.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 1st. Chemical Bank’s payout ratio is currently 36.60%.

In other news, Director Richard M. Lievense sold 6,298 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $57.92, for a total value of $364,780.16. Following the sale, the director now directly owns 28,669 shares of the company’s stock, valued at approximately $1,660,508.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dennis L. Klaeser sold 53,536 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $58.48, for a total transaction of $3,130,785.28. The disclosure for this sale can be found here. Insiders sold a total of 67,236 shares of company stock worth $3,933,758 over the last ninety days. Insiders own 1.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank grew its position in shares of Chemical Bank by 2.3% in the 4th quarter. Swiss National Bank now owns 121,103 shares of the bank’s stock worth $6,475,000 after buying an additional 2,700 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Chemical Bank by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,971,100 shares of the bank’s stock worth $155,269,000 after buying an additional 44,421 shares during the period. Sterling Capital Management LLC grew its position in shares of Chemical Bank by 1.0% in the 3rd quarter. Sterling Capital Management LLC now owns 481,537 shares of the bank’s stock worth $25,165,000 after buying an additional 4,836 shares during the period. Carillon Tower Advisers Inc. purchased a new stake in shares of Chemical Bank in the 4th quarter worth about $2,820,000. Finally, Arizona State Retirement System grew its position in shares of Chemical Bank by 26.9% in the 4th quarter. Arizona State Retirement System now owns 51,226 shares of the bank’s stock worth $2,739,000 after buying an additional 10,872 shares during the period. 80.05% of the stock is currently owned by hedge funds and other institutional investors.

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Chemical Bank Company Profile

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers 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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Earnings History and Estimates for Chemical Bank (NASDAQ:CHFC)

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