Louisiana State Employees Retirement System Raises Position in Chemical Financial Corporation (NASDAQ:CHFC)

Louisiana State Employees Retirement System raised its position in shares of Chemical Financial Corporation (NASDAQ:CHFC) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,600 shares of the bank’s stock after buying an additional 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Chemical Financial Corporation were worth $900,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Chemical Financial Corporation by 0.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 12,247 shares of the bank’s stock worth $626,000 after buying an additional 89 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Chemical Financial Corporation by 3.0% in the first quarter. World Asset Management Inc now owns 4,340 shares of the bank’s stock worth $222,000 after buying an additional 127 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Chemical Financial Corporation by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,846 shares of the bank’s stock worth $1,629,000 after buying an additional 130 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Chemical Financial Corporation by 4.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,892 shares of the bank’s stock worth $148,000 after buying an additional 131 shares during the period. Finally, Capstone Asset Management Co. raised its position in Chemical Financial Corporation by 2.7% in the second quarter. Capstone Asset Management Co. now owns 5,319 shares of the bank’s stock worth $257,000 after buying an additional 140 shares during the period. 79.19% of the stock is currently owned by institutional investors and hedge funds.

Chemical Financial Corporation (CHFC) opened at 45.10 on Friday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.90 and a beta of 1.12. Chemical Financial Corporation has a 12 month low of $40.93 and a 12 month high of $55.55. The company has a 50-day moving average of $48.03 and a 200 day moving average of $49.07.

Chemical Financial Corporation (NASDAQ:CHFC) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm had revenue of $179.52 million for the quarter, compared to the consensus estimate of $178.21 million. Chemical Financial Corporation had a net margin of 22.28% and a return on equity of 7.32%. On average, equities research analysts anticipate that Chemical Financial Corporation will post $2.96 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.48%. This is an increase from Chemical Financial Corporation’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 30th. Chemical Financial Corporation’s dividend payout ratio (DPR) is presently 47.58%.

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A number of research firms have recently commented on CHFC. Piper Jaffray Companies began coverage on shares of Chemical Financial Corporation in a research report on Thursday, July 6th. They set an “overweight” rating and a $56.00 price target for the company. BidaskClub lowered shares of Chemical Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Stephens restated a “buy” rating on shares of Chemical Financial Corporation in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Chemical Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, ValuEngine lowered shares of Chemical Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.17.

In other Chemical Financial Corporation news, Director Larry D. Stauffer sold 2,110 shares of Chemical Financial Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $47.47, for a total value of $100,161.70. Following the sale, the director now directly owns 13,246 shares in the company, valued at approximately $628,787.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard M. Lievense sold 14,659 shares of Chemical Financial Corporation stock in a transaction on Friday, July 28th. The shares were sold at an average price of $48.20, for a total transaction of $706,563.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

About Chemical Financial Corporation

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.

Institutional Ownership by Quarter for Chemical Financial Corporation (NASDAQ:CHFC)

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