Chemung Financial Co. (NASDAQ:CHMG) EVP Thomas W. Wirth sold 719 shares of the firm’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $42.25, for a total transaction of $30,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of CHMG stock opened at $43.30 on Tuesday. The stock has a market cap of $201.91 million, a P/E ratio of 11.49 and a beta of 0.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $42.63 and a two-hundred day moving average price of $37.27. Chemung Financial Co. has a one year low of $23.01 and a one year high of $45.00.
Chemung Financial (NASDAQ:CHMG) last announced its quarterly earnings results on Wednesday, April 21st. The bank reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.13. Chemung Financial had a net margin of 21.06% and a return on equity of 9.54%. As a group, equities research analysts anticipate that Chemung Financial Co. will post 3.92 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in CHMG. Morgan Stanley grew its holdings in shares of Chemung Financial by 106.6% during the 3rd quarter. Morgan Stanley now owns 38,527 shares of the bank’s stock valued at $1,112,000 after purchasing an additional 19,877 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Chemung Financial by 9.9% during the 4th quarter. BlackRock Inc. now owns 194,343 shares of the bank’s stock valued at $6,597,000 after purchasing an additional 17,430 shares during the last quarter. BHZ Capital Management LP grew its holdings in shares of Chemung Financial by 165.3% during the 4th quarter. BHZ Capital Management LP now owns 19,402 shares of the bank’s stock valued at $659,000 after purchasing an additional 12,088 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Chemung Financial by 80.9% during the 4th quarter. JPMorgan Chase & Co. now owns 15,120 shares of the bank’s stock valued at $513,000 after purchasing an additional 6,762 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Chemung Financial during the 4th quarter valued at approximately $201,000. 35.63% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised shares of Chemung Financial from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research report on Wednesday, February 3rd.
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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