Chemical Financial Co. (CHFC) Expected to Announce Earnings of $0.99 Per Share

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Wall Street analysts predict that Chemical Financial Co. (NASDAQ:CHFC) will report earnings of $0.99 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Chemical Financial’s earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $1.02. Chemical Financial posted earnings per share of $0.87 in the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 28th.

On average, analysts expect that Chemical Financial will report full year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.89 to $3.95. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.19 per share, with EPS estimates ranging from $4.02 to $4.41. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Chemical Financial.

Chemical Financial (NASDAQ:CHFC) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $197.40 million for the quarter, compared to analysts’ expectations of $200.16 million. Chemical Financial had a return on equity of 9.98% and a net margin of 24.78%. During the same quarter in the prior year, the company posted $0.79 EPS.

A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Chemical Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. BidaskClub downgraded Chemical Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Boenning Scattergood upgraded Chemical Financial from an “under perform” rating to a “neutral” rating in a research report on Thursday, October 25th. Raymond James restated a “buy” rating and issued a $53.00 target price on shares of Chemical Financial in a research report on Thursday, October 25th. Finally, Stephens restated a “buy” rating and issued a $52.00 target price on shares of Chemical Financial in a research report on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.20.

Institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC purchased a new position in Chemical Financial during the third quarter worth approximately $125,000. Polaris Greystone Financial Group LLC purchased a new position in Chemical Financial during the third quarter worth approximately $194,000. Verition Fund Management LLC purchased a new position in Chemical Financial during the third quarter worth approximately $222,000. Nomura Holdings Inc. purchased a new position in Chemical Financial during the second quarter worth approximately $237,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Chemical Financial during the third quarter worth approximately $256,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Shares of CHFC stock opened at $43.64 on Wednesday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Chemical Financial has a 12-month low of $34.62 and a 12-month high of $59.83.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Friday, December 7th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, December 6th. This represents a $1.36 dividend on an annualized basis and a yield of 3.12%. Chemical Financial’s payout ratio is 44.44%.

About Chemical Financial

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers 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, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.

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Earnings History and Estimates for Chemical Financial (NASDAQ:CHFC)

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