Piper Jaffray Companies Initiates Coverage on Chemical Financial Corporation (NASDAQ:CHFC)

Investment analysts at Piper Jaffray Companies initiated coverage on shares of Chemical Financial Corporation (NASDAQ:CHFC) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $56.00 price target on the bank’s stock. Piper Jaffray Companies’ price target points to a potential upside of 14.26% from the company’s previous close.

CHFC has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Chemical Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. Hilliard Lyons upgraded shares of Chemical Financial Corporation to a “buy” rating and increased their price objective for the company from $54.00 to $55.00 in a research note on Friday, April 28th. BidaskClub upgraded shares of Chemical Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. DA Davidson initiated coverage on shares of Chemical Financial Corporation in a research note on Wednesday, July 5th. They set a “buy” rating and a $58.00 price objective on the stock. Finally, Keefe, Bruyette & Woods set a $55.00 price objective on shares of Chemical Financial Corporation and gave the company a “buy” rating in a research note on Saturday, April 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $56.40.

Shares of Chemical Financial Corporation (NASDAQ CHFC) traded down 0.630% during mid-day trading on Thursday, hitting $48.701. The stock had a trading volume of 52,222 shares. The company’s 50 day moving average is $46.99 and its 200-day moving average is $50.17. Chemical Financial Corporation has a 52-week low of $36.92 and a 52-week high of $55.55. The stock has a market cap of $3.46 billion, a P/E ratio of 21.351 and a beta of 1.13.

Chemical Financial Corporation (NASDAQ:CHFC) last released its quarterly earnings data on Tuesday, April 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.01. Chemical Financial Corporation had a net margin of 21.37% and a return on equity of 7.47%. The firm had revenue of $168.11 million for the quarter, compared to the consensus estimate of $173.51 million. On average, equities research analysts anticipate that Chemical Financial Corporation will post $3.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $1.08 annualized dividend and a yield of 2.20%. Chemical Financial Corporation’s dividend payout ratio (DPR) is 48.87%.

TRADEMARK VIOLATION WARNING: This article was posted by WKRB News and is the sole property of of WKRB News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.wkrb13.com/markets/2285469/piper-jaffray-companies-initiates-coverage-on-chemical-financial-corporation-nasdaqchfc.html.

In other Chemical Financial Corporation news, Director Richard M. Lievense sold 13,351 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $47.87, for a total value of $639,112.37. Following the completion of the sale, the director now directly owns 59,192 shares in the company, valued at $2,833,521.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Retirement Systems of Alabama increased its stake in shares of Chemical Financial Corporation by 0.7% in the first quarter. Retirement Systems of Alabama now owns 91,749 shares of the bank’s stock valued at $4,693,000 after buying an additional 648 shares during the period. Johanson Financial Advisors Inc. purchased a new stake in shares of Chemical Financial Corporation during the first quarter valued at $789,000. Louisiana State Employees Retirement System increased its stake in shares of Chemical Financial Corporation by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock valued at $916,000 after buying an additional 500 shares during the period. Capstone Asset Management Co. increased its stake in shares of Chemical Financial Corporation by 4.9% in the first quarter. Capstone Asset Management Co. now owns 5,179 shares of the bank’s stock valued at $265,000 after buying an additional 240 shares during the period. Finally, Creative Planning increased its stake in shares of Chemical Financial Corporation by 11.2% in the first quarter. Creative Planning now owns 3,043 shares of the bank’s stock valued at $156,000 after buying an additional 307 shares during the period. Institutional investors own 79.44% of the company’s stock.

Chemical Financial Corporation Company Profile

Chemical Financial Corporation is a financial holding company. The Company operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers banking and fiduciary products and services. These products and services 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, access to insurance and investment products, corporate and personal wealth management services, and other banking services.

Analyst Recommendations for Chemical Financial Corporation (NASDAQ:CHFC)

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285469/piper-jaffray-companies-initiates-coverage-on-chemical-financial-corporation-nasdaqchfc.html

Receive News & Ratings for Chemical Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemical Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.