Chemical Financial (NASDAQ:CHFC)‘s stock had its “buy” rating restated by Raymond James in a research report issued to clients and investors on Thursday. They currently have a $53.00 price objective on the bank’s stock. Raymond James’ target price suggests a potential upside of 21.12% from the company’s previous close.
Several other brokerages also recently issued reports on CHFC. BidaskClub upgraded Chemical Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research downgraded Chemical Financial from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Sandler O’Neill downgraded Chemical Financial from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. ValuEngine downgraded Chemical Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Boenning Scattergood upgraded Chemical Financial from an “under perform” rating to a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.00.
Shares of Chemical Financial stock opened at $43.76 on Thursday. Chemical Financial has a 1 year low of $41.97 and a 1 year high of $59.83. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15.
Hedge funds have recently bought and sold shares of the company. Polaris Greystone Financial Group LLC acquired a new position in shares of Chemical Financial during the third quarter worth about $194,000. Nomura Holdings Inc. acquired a new position in shares of Chemical Financial during the second quarter worth about $237,000. IFP Advisors Inc boosted its position in shares of Chemical Financial by 223.7% during the third quarter. IFP Advisors Inc now owns 4,803 shares of the bank’s stock worth $256,000 after buying an additional 3,319 shares during the period. Stifel Financial Corp boosted its position in shares of Chemical Financial by 45.1% during the first quarter. Stifel Financial Corp now owns 6,360 shares of the bank’s stock worth $348,000 after buying an additional 1,977 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in shares of Chemical Financial during the second quarter worth about $451,000. 83.28% of the stock is owned by institutional investors.
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.
Featured Story: Fundamental Analysis
Receive News & Ratings for Chemical Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemical Financial and related companies with MarketBeat.com's FREE daily email newsletter.