Price Action Don’t Lie: Is Buying 52-Week Stock Like Chemical Financial Corporation a Winning Strategy?

Price Action Don't Lie: Is Buying 52 Week Stock Like Chemical Financial Corporation a Winning Strategy?

The stock of Chemical Financial Corporation (NASDAQ:CHFC) hit a new 52-week high and has $84.50 target or 65.00% above today’s $51.21 share price. The 5 months bullish chart indicates low risk for the $3.63B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $84.50 price target is reached, the company will be worth $2.36 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 82,126 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. FIG Partners upgraded the shares of CHFC in a report on Friday, January 29 to “Outperform” rating. The stock has “Buy” rating given by Sandler O’Neill on Thursday, January 28. The firm earned “Strong Buy” rating on Wednesday, March 2 by Raymond James. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Wednesday, January 27.

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 Q2 2016. Its up 2.27, from 1.14 in 2016Q1. The ratio improved, 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.
Sei Invests has 100 shares for 0% of their US portfolio. Cubist Systematic Strategies Lc has 0.01% invested in the company for 5,643 shares. Eagle Asset Mngmt Inc has 0.05% invested in the company for 200,594 shares. Benjamin F Edwards has 340 shares for 0% of their US portfolio. Ubs Asset Mgmt Americas has 99,177 shares for 0% of their US portfolio. Moreover, Aqr Cap Mgmt Limited Com has 0.01% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 97,925 shares. Hutchin Hill Cap L P has 182,896 shares for 0.23% of their US portfolio. Tiaa Cref Invest Mgmt Ltd Liability Corporation accumulated 0.01% or 178,259 shares. Virginia Retirement Et Al holds 14,000 shares or 0.01% of its portfolio. Millennium Management Limited Liability Company has invested 0.05% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC). Kistler holds 7 shares or 0% of its portfolio. Richard Bernstein Limited Liability Corporation reported 84,104 shares or 0.3% of all its holdings. The New York-based Jpmorgan Chase Co has invested 0% in Chemical Financial Corporation (NASDAQ:CHFC). Moreover, Chatham Cap Grp has 0.31% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 26,540 shares. Sheets Smith Wealth Mngmt has invested 0.18% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC).

Insider Transactions: Since August 15, 2016, the stock had 0 insider buys, and 12 insider sales for $36.65 million net activity. TORGOW GARY had sold 55,000 shares worth $2.36 million. KLAESER DENNIS L sold 49,785 shares worth $2.25M. $1.71M worth of shares were sold by WEISS ARTHUR A on Wednesday, August 31. 34,456 shares were sold by SHAFER THOMAS C, worth $1.56M on Wednesday, August 31. 16,758 Chemical Financial Corporation (NASDAQ:CHFC) shares with value of $758,192 were sold by KLEIN RONALD A. $9,216 worth of shares were sold by GWIZDALA LORI A on Wednesday, August 31. Provost David T also sold $2.36 million worth of Chemical Financial Corporation (NASDAQ:CHFC) on Monday, October 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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