Steward Partners Investment Advisory LLC purchased a new stake in shares of Chemical Financial Co. (NASDAQ:CHFC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 622 shares of the bank’s stock, valued at approximately $25,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Chemical Financial by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,189,834 shares of the bank’s stock worth $116,781,000 after buying an additional 185,916 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chemical Financial by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 821,489 shares of the bank’s stock worth $30,073,000 after buying an additional 64,505 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Chemical Financial by 0.4% in the first quarter. Retirement Systems of Alabama now owns 93,048 shares of the bank’s stock worth $3,830,000 after buying an additional 415 shares in the last quarter. Brinker Capital Inc. purchased a new position in shares of Chemical Financial in the first quarter worth $758,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Chemical Financial in the first quarter worth $645,000. Institutional investors own 86.66% of the company’s stock.
Chemical Financial stock opened at $38.56 on Friday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.19 and a beta of 1.48. The firm’s fifty day moving average is $40.70 and its 200 day moving average is $42.06. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Chemical Financial Co. has a 52-week low of $34.62 and a 52-week high of $59.10.
In other news, insider Thomas C. Shafer acquired 6,380 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $39.12 per share, for a total transaction of $249,585.60. Following the completion of the transaction, the insider now directly owns 31,555 shares of the company’s stock, valued at approximately $1,234,431.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David T. Provost acquired 10,100 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $39.19 per share, for a total transaction of $395,819.00. Following the transaction, the chief executive officer now directly owns 104,494 shares of the company’s stock, valued at $4,095,119.86. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 26,498 shares of company stock worth $1,037,609. 1.00% of the stock is owned by insiders.
Several equities analysts have recently commented on CHFC shares. ValuEngine downgraded shares of Chemical Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 16th. Raymond James set a $55.00 target price on shares of Chemical Financial and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Jaffray Companies set a $53.00 target price on shares of Chemical Financial and gave the stock a “buy” rating in a report on Wednesday, May 8th. BidaskClub raised shares of Chemical Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Finally, Zacks Investment Research raised shares of Chemical Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.71.
Chemical Financial Profile
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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