Equities analysts expect that Chemung Financial Co. (NASDAQ:CHMG – Get Rating) will post earnings per share of $1.24 for the current quarter, according to Zacks. Two analysts have made estimates for Chemung Financial’s earnings. The highest EPS estimate is $1.28 and the lowest is $1.20. Chemung Financial reported earnings per share of $1.39 during the same quarter last year, which would indicate a negative year over year growth rate of 10.8%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Chemung Financial will report full year earnings of $4.73 per share for the current financial year, with EPS estimates ranging from $4.65 to $4.80. For the next financial year, analysts expect that the firm will post earnings of $5.02 per share, with EPS estimates ranging from $5.00 to $5.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Chemung Financial.
Chemung Financial (NASDAQ:CHMG – Get Rating) last posted its earnings results on Wednesday, January 26th. The bank reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. Chemung Financial had a net margin of 28.45% and a return on equity of 12.95%. The company had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.03 million.
CHMG traded up $0.30 during trading hours on Wednesday, hitting $46.90. 3 shares of the company’s stock were exchanged, compared to its average volume of 4,412. Chemung Financial has a 12-month low of $41.42 and a 12-month high of $49.50. The stock’s 50 day moving average price is $46.28. The stock has a market cap of $218.74 million, a price-to-earnings ratio of 8.26 and a beta of 0.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.72 and a current ratio of 0.72.
The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, March 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.64%. Chemung Financial’s dividend payout ratio is presently 21.99%.
In other Chemung Financial news, Director Denise V. Gonick bought 800 shares of the company’s stock in a transaction on Friday, January 28th. The stock was purchased at an average cost of $46.40 per share, for a total transaction of $37,120.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.32% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Chemung Financial by 11.4% in the fourth quarter. BlackRock Inc. now owns 11,573 shares of the bank’s stock worth $538,000 after acquiring an additional 1,188 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Chemung Financial by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 90,923 shares of the bank’s stock worth $4,162,000 after acquiring an additional 1,864 shares during the last quarter. BHZ Capital Management LP boosted its position in shares of Chemung Financial by 38.5% in the fourth quarter. BHZ Capital Management LP now owns 7,426 shares of the bank’s stock worth $345,000 after acquiring an additional 2,065 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Chemung Financial by 142.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,016 shares of the bank’s stock valued at $181,000 after buying an additional 2,358 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in Chemung Financial by 45.1% during the fourth quarter. Susquehanna International Group LLP now owns 8,573 shares of the bank’s stock valued at $392,000 after buying an additional 2,666 shares in the last quarter. 36.16% of the stock is currently owned by institutional investors and hedge funds.
Chemung Financial Company Profile (Get Rating)
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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