The stock last traded at $53.53 just a bit higher than the 50 day moving average which is $50.56 and which is impressively higher than the 200 day moving average of $48.33. The 50 day moving average moved up $2.97 and the 200 day average was up $5.20. (NASDAQ:CHFC) shares saw light trading volume with 191K shares changing hands by the end of trading on Tuesday. Trading volume was down 53.07% under the stocks average daily volume.
Short traders are more bullish on shares of the company of late if you put credence in the downtick in short interest. The company recorded a fall in short interest between September 15, 2017 and September 29, 2017 of -4.19%. Short shares decreased 92,541 over that timeframe. Days to cover increased 1.0 to 6.0 and the percentage of shorted shares was 0.03% on September 29.
There has been some selling insider activity on Chemical Financial Corporation (NASDAQ:CHFC) recently. Larry D. Stauffer, Director sold $100,162 worth of shares at an average price of $47.47 on Tue the 15th. Stauffer now owns $628,788 of stock as reported to the SEC.
These firms have modified their investment in CHFC. Louisiana State Employees Retirement System augmented its investment by buying 400 shares an increase of 2.2% as of 09/30/2017. Louisiana State Employees Retirement System claims 19,000 shares worth $993,000. The value of the position overall is up by 10.3%. As of quarter end Bank Of Montreal /can/ had disposed of a total of 123 shares trimming its position 10.3%. The value of the investment in Chemical Financial Corporation decreased from $58,000 to $56,000 decreasing 3.4% for the reporting period.
As of the end of the quarter Mutual Of America Capital Management LLC had sold 401 shares trimming its holdings by 0.7%. The value of the investment in CHFC went from $2,811,000 to $3,014,000 a change of 7.2% quarter over quarter. State Treasurer State Of Michigan cut its stake by selling 2,500 shares a decrease of 8.5%. State Treasurer State Of Michigan currently owns 26,800 shares with a value of $1,401,000. The total value of its holdings decreased 1.2%.
DA Davidson added the stock to its research portfolio with a rating of “Buy”. On July 6 analysts at PiperJaffray initiated coverage on CHFC with an initial rating of “Overweight”.
The company is down by 0.91%% since yesterday’s close of 54.02. Chemical Financial Corporation recently announced a dividend that will be paid on Friday the 15th of December 2017. The dividend payment will be $0.280 per share for the quarter which is $1.12 annualized. The dividend yield will be $2.10. The ex-dividend date will be on Wednesday the 30th of August 2017.
The most current P/E ratio is 22.44 and market cap is 3.81B. As of the latest earnings report the EPS was $2.39 and is projected to be $2.97 for the current year with 71,144,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.81 with next year’s EPS anticipated to be $3.55.
Chemical Financial Corporation (Corporation), launched on August 27, 1973, is a financial holding company. The Company operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers a range of 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, debit cards, access to insurance and investment products, corporate and personal wealth management services, and other banking services. It operates through an internal organizational structure of seven regional banking units. As of December 31, 2016, the Corporation and Chemical Bank served these markets through 249 banking offices. In addition to the banking offices, Chemical Bank operated eight loan production offices and over 272 automated teller machines, both on- and off-bank premises, as of December 31, 2016..