Chemung Financial Co. (NASDAQ:CHMG) Director Robert H. Dalrymple sold 5,551 shares of the company’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $44.93, for a total transaction of $249,406.43. Following the completion of the sale, the director now directly owns 766 shares of the company’s stock, valued at $34,416.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ:CHMG opened at $43.00 on Friday. Chemung Financial Co. has a 1-year low of $24.51 and a 1-year high of $47.43. The business has a 50-day simple moving average of $43.85. The stock has a market capitalization of $200.51 million, a price-to-earnings ratio of 8.79 and a beta of 0.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.02.
Chemung Financial (NASDAQ:CHMG) last released its quarterly earnings data on Wednesday, April 21st. The bank reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.13. Chemung Financial had a net margin of 26.10% and a return on equity of 11.86%. The company had revenue of $21.41 million during the quarter, compared to analyst estimates of $21.64 million. As a group, sell-side analysts predict that Chemung Financial Co. will post 4.96 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its position in shares of Chemung Financial by 84.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,774 shares of the bank’s stock valued at $74,000 after buying an additional 810 shares during the last quarter. Barclays PLC lifted its position in shares of Chemung Financial by 159.3% during the first quarter. Barclays PLC now owns 2,902 shares of the bank’s stock valued at $121,000 after buying an additional 1,783 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new stake in shares of Chemung Financial during the first quarter valued at about $165,000. Marshall Wace LLP purchased a new stake in shares of Chemung Financial during the first quarter valued at about $185,000. Finally, Rhumbline Advisers purchased a new stake in shares of Chemung Financial during the fourth quarter valued at about $201,000. 36.32% of the stock is owned by institutional investors and hedge funds.
About Chemung Financial
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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