The stock of Chemical Financial Corporation (NASDAQ:CHFC) hit a new 52-week high and has $54.37 target or 3.00% above today’s $52.79 share price. The 5 months bullish chart indicates low risk for the $3.72B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $54.37 price target is reached, the company will be worth $111.60M 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 184,330 shares traded hands. Chemical Financial Corporation (NASDAQ:CHFC) has risen 35.35% since April 28, 2016 and is uptrending. It has outperformed by 29.43% the S&P500.
Analysts await Chemical Financial Corporation (NASDAQ:CHFC) to report earnings on January, 23. They expect $0.71 earnings per share, up 1.43% or $0.01 from last year’s $0.7 per share. CHFC’s profit will be $50.03 million for 18.59 P/E if the $0.71 EPS becomes a reality. After $0.72 actual earnings per share reported by Chemical Financial Corporation for the previous quarter, Wall Street now forecasts -1.39% negative EPS growth.
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 firm has “Outperform” rating given on Wednesday, January 27 by Keefe Bruyette & Woods. The rating was upgraded by Sandler O’Neill on Thursday, January 28 to “Buy”. Raymond James initiated Chemical Financial Corporation (NASDAQ:CHFC) rating on Wednesday, March 2. Raymond James has “Strong Buy” rating and $42 price target. The firm has “Outperform” rating by FIG Partners given on Friday, January 29.
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.
Moreover, Citadel Advisors Ltd Liability has 0.01% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 125,234 shares. Grantham Mayo Van Otterloo & Ltd Company reported 245,148 shares or 0.04% of all its holdings. Quantitative Systematic Strategies Limited holds 0.45% or 26,141 shares in its portfolio. Sei last reported 0% of its portfolio in the stock. Suntrust Banks holds 23,450 shares or 0.01% of its portfolio. Fifth Third Retail Bank last reported 0% of its portfolio in the stock. Moreover, Blackrock Group Limited has 0% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 44,088 shares. Minerva Advsr Limited Liability has 33,735 shares for 0.85% of their US portfolio. Northern Trust holds 0.01% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC) for 1.12 million shares. Ngam Advsr Limited Partnership accumulated 98,040 shares or 0.05% of the stock. First Manhattan Company holds 0.05% or 205,754 shares in its portfolio. The Texas-based Avalon Advsrs Ltd Llc has invested 0.07% in Chemical Financial Corporation (NASDAQ:CHFC). Retail Bank Of Montreal Can accumulated 4,454 shares or 0% of the stock. First Personal Svcs holds 203 shares or 0% of its portfolio. The Pennsylvania-based Pitcairn has invested 0.03% in Chemical Financial Corporation (NASDAQ:CHFC).
Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 13 insider sales for $36.67 million net activity. On Wednesday, August 31 the insider Provost David T sold $12.63M. 4,500 shares were sold by Lievense Richard M., worth $198,153. KOHN THOMAS W had sold 1,000 shares worth $46,750 on Tuesday, August 30. GWIZDALA LORI A had sold 800 shares worth $35,640 on Wednesday, August 17. KLEIN RONALD A sold 16,758 shares worth $758,192. Another trade for 37,902 shares valued at $1.71 million was made by WEISS ARTHUR A on Wednesday, August 31. The insider TORGOW GARY sold $2.36 million.
More news for Chemical Financial Corporation (NASDAQ:CHFC) were recently published by: Mlive.com, which released: “Chemical Financial Corp. announces Q1 2016 cash dividend” on January 20, 2016. Globenewswire.com‘s article titled: “Chemical Financial Corporation Announces Third Quarter 2016 Earnings …” and published on October 17, 2016 is yet another important article.
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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