Chemung Financial Co. (NASDAQ:CHMG) EVP Thomas W. Wirth Sells 719 Shares

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.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Thursday, March 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.40%. The ex-dividend date was Wednesday, March 17th. Chemung Financial’s dividend payout ratio is currently 32.50%.

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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