According to Zacks, “CHEMUNG FINANCIAL CORP. is a bank holding company, engaged thru the bank in full-service commercial and consumer banking and trust business. “
CHMG has been the topic of a number of other reports. ValuEngine upgraded shares of Chemung Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 1st. DA Davidson downgraded shares of Chemung Financial from a “buy” rating to a “neutral” rating and raised their price target for the company from $32.00 to $37.00 in a research note on Thursday, October 22nd. Finally, TheStreet upgraded shares of Chemung Financial from a “c+” rating to a “b” rating in a research report on Friday, October 23rd.
Chemung Financial (NASDAQ:CHMG) last released its earnings results on Monday, October 19th. The bank reported $1.19 EPS for the quarter, beating the consensus estimate of $0.67 by $0.52. Chemung Financial had a net margin of 21.06% and a return on equity of 9.54%. The firm had revenue of $21.21 million for the quarter, compared to analyst estimates of $20.20 million. Equities analysts predict that Chemung Financial will post 3.97 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in CHMG. Marshall Wace LLP bought a new position in Chemung Financial during the 1st quarter worth approximately $185,000. Bank of America Corp DE raised its holdings in Chemung Financial by 34.2% during the 2nd quarter. Bank of America Corp DE now owns 2,754 shares of the bank’s stock worth $75,000 after purchasing an additional 702 shares during the last quarter. Private Advisor Group LLC raised its holdings in Chemung Financial by 8.4% during the 2nd quarter. Private Advisor Group LLC now owns 6,582 shares of the bank’s stock worth $180,000 after purchasing an additional 508 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Chemung Financial by 41.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,725 shares of the bank’s stock worth $265,000 after purchasing an additional 2,831 shares during the last quarter. Finally, QCI Asset Management Inc. NY bought a new position in Chemung Financial during the 3rd quarter worth approximately $419,000. Hedge funds and other institutional investors own 35.63% of the company’s stock.
Chemung Financial Company Profile
Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.
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