Insider Selling: Chemung Financial Co. (NASDAQ:CHMG) EVP Sells 1,000 Shares of Stock

Chemung Financial Co. (NASDAQ:CHMG) EVP Loren D. Cole sold 1,000 shares of Chemung Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $51.21, for a total value of $51,210.00. Following the transaction, the executive vice president now directly owns 4,771 shares in the company, valued at approximately $244,322.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Chemung Financial Price Performance

NASDAQ:CHMG traded down $0.31 during mid-day trading on Thursday, reaching $50.90. 8,037 shares of the stock were exchanged, compared to its average volume of 9,931. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.42. Chemung Financial Co. has a 1-year low of $39.00 and a 1-year high of $51.72. The firm has a market capitalization of $242.08 million, a PE ratio of 11.33 and a beta of 0.15. The business has a fifty day moving average price of $47.36 and a 200 day moving average price of $45.68.

Chemung Financial (NASDAQ:CHMG) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Chemung Financial had a return on equity of 10.91% and a net margin of 14.56%. The business had revenue of $38.28 million during the quarter, compared to analyst estimates of $24.00 million. Research analysts expect that Chemung Financial Co. will post 4.94 earnings per share for the current fiscal year.

Chemung Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were given a $0.31 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.44%. Chemung Financial’s dividend payout ratio (DPR) is 27.43%.

Institutional Investors Weigh In On Chemung Financial

Institutional investors have recently bought and sold shares of the business. Bright Futures Wealth Management LLC. acquired a new stake in Chemung Financial during the 2nd quarter worth about $200,000. Bank of New York Mellon Corp boosted its position in Chemung Financial by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,618 shares of the bank’s stock worth $558,000 after acquiring an additional 397 shares during the period. Empowered Funds LLC boosted its position in Chemung Financial by 8.1% during the 1st quarter. Empowered Funds LLC now owns 18,733 shares of the bank’s stock worth $796,000 after acquiring an additional 1,400 shares during the period. Acadian Asset Management LLC boosted its position in Chemung Financial by 8.7% during the 1st quarter. Acadian Asset Management LLC now owns 25,057 shares of the bank’s stock worth $1,063,000 after acquiring an additional 2,011 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Chemung Financial by 4.3% during the 2nd quarter. Renaissance Technologies LLC now owns 34,322 shares of the bank’s stock worth $1,647,000 after acquiring an additional 1,400 shares during the period. 47.50% of the stock is currently owned by institutional investors and hedge funds.

Chemung Financial Company Profile

Chemung Financial Corporation operates as a bank 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.