Chemung Financial Co. (NASDAQ:CHMG) Director Robert H. Dalrymple Sells 5,551 Shares

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.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Thursday, June 17th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, June 16th. This is a positive change from Chemung Financial’s previous quarterly dividend of $0.26. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Chemung Financial’s dividend payout ratio is 25.94%.

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.

Featured Article: Portfolio Manager

Insider Buying and Selling by Quarter for Chemung Financial (NASDAQ:CHMG)

Receive News & Ratings for Chemung Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemung Financial and related companies with MarketBeat.com's FREE daily email newsletter.