The stock of Chemical Financial Corporation (NASDAQ:CHFC) reached all time high today, Nov, 21 and still has $76.83 target or 50.00% above today’s $51.22 share price. This indicates more upside for the $3.64B company. This technical setup was reported by Barchart.com. If the $76.83 PT is reached, the company will be worth $1.82B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 198,714 shares traded hands. Chemical Financial Corporation (NASDAQ:CHFC) has risen 36.32% since April 19, 2016 and is uptrending. It has outperformed by 32.46% the S&P500.
Chemical Financial Corporation (NASDAQ:CHFC) Ratings Coverage
Out of 4 analysts covering Chemical Financial (NASDAQ:CHFC), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Chemical Financial has been the topic of 4 analyst reports since January 27, 2016 according to StockzIntelligence Inc. The company was upgraded on Friday, January 29 by FIG Partners. Sandler O’Neill upgraded the shares of CHFC in a report on Thursday, January 28 to “Buy” rating. Raymond James initiated the shares of CHFC in a report on Wednesday, March 2 with “Strong Buy” rating. On Wednesday, January 27 the stock rating was upgraded by Keefe Bruyette & Woods to “Outperform”.
According to Zacks Investment Research, “CHEMICAL FINANCIAL CORP. is a multi-bank holding company. The company business is concentrated in a single industry segment, commercial banking. Subsidiaries offer a full range of commercial banking and fiduciary services. These include accepting deposits, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit services, automated teller machines, money transfer services, corporate and personal trust services and other banking services.”
Insitutional Activity: The institutional sentiment increased to 3.41 in 2016 Q2. Its up 2.27, from 1.14 in 2016Q1. The ratio increased, as 13 funds sold all Chemical Financial Corporation shares owned while 51 reduced positions. 19 funds bought stakes while 54 increased positions. They now own 26.80 million shares or 1.63% more from 26.37 million shares in 2016Q1.
Financial Professionals, a Texas-based fund reported 216 shares. Manufacturers Life The holds 81,619 shares or 0% of its portfolio. Moreover, Virginia Retirement Et Al has 0.01% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 14,000 shares. Putnam Investments Ltd owns 145,753 shares or 0.01% of their US portfolio. Blackrock Gp, a United Kingdom-based fund reported 44,088 shares. Sheets Smith Wealth Mgmt last reported 16,909 shares in the company. Artemis Inv Mngmt Llp holds 749,700 shares or 0.46% of its portfolio. Walleye Trading Limited Company has invested 0% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC). Regions Fincl holds 0.01% or 29,322 shares in its portfolio. Price T Rowe Assocs Md holds 13,951 shares or 0% of its portfolio. Morgan Stanley holds 0% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC) for 42,816 shares. Jacobs Levy Equity Management Inc owns 16,420 shares or 0.01% of their US portfolio. Cornercap Inv Counsel accumulated 0.1% or 14,234 shares. Lsv Asset Mgmt has invested 0.02% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC). Tiaa Cref Inv Management Limited Liability Com reported 178,259 shares or 0.01% of all its holdings.
Insider Transactions: Since August 15, 2016, the stock had 0 insider buys, and 13 insider sales for $36.67 million net activity. The insider Lievense Richard M. sold 4,500 shares worth $198,153. TORGOW GARY sold $12.72 million worth of Chemical Financial Corporation (NASDAQ:CHFC) on Wednesday, August 31. Shares for $46,750 were sold by KOHN THOMAS W on Tuesday, August 30. 279,101 Chemical Financial Corporation (NASDAQ:CHFC) shares with value of $12.63 million were sold by Provost David T. 49,785 shares with value of $2.25M were sold by KLAESER DENNIS L on Wednesday, August 31. 37,902 shares were sold by WEISS ARTHUR A, worth $1.71M on Wednesday, August 31. KLEIN RONALD A had sold 16,758 shares worth $758,192 on Wednesday, August 31.
More important recent Chemical Financial Corporation (NASDAQ:CHFC) news were published by: Mlive.com which released: “Chemical Financial Corp. announces Q1 2016 cash dividend” on January 20, 2016, also Globenewswire.com published article titled: “Chemical Financial Corporation Reports 2016 Third Quarter Operating Results”, Finance.Yahoo.com published: “Chemical Financial Corporation Announces Third Quarter 2016 Earnings …” on October 17, 2016. More interesting news about Chemical Financial Corporation (NASDAQ:CHFC) was released by: Streetinsider.com and their article: “Form 8-K CHEMICAL FINANCIAL CORP For: Nov 17” with publication date: November 17, 2016.
CHFC Company Profile
Chemical Financial Corporation (Corporation), incorporated on August 27, 1973, is a financial holding company. The Firm operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers a range of banking and fiduciary services and products. The Company’s services and products 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 over four regional banking units. The Chemical Bank serves the markets through approximately 185 banking offices located in approximately 50 counties across Michigan’s Lower Peninsula. In addition to its banking offices, Chemical Bank operates over three loan production offices and approximately 200 automated teller machines, both on- and off-bank premises.
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