Equities analysts predict that Chemung Financial Co. (NASDAQ:CHMG – Get Rating) will post $22.51 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Chemung Financial’s earnings. The lowest sales estimate is $22.50 million and the highest is $22.51 million. Chemung Financial reported sales of $22.57 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The business is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Chemung Financial will report full year sales of $91.35 million for the current financial year, with estimates ranging from $90.90 million to $91.80 million. For the next fiscal year, analysts anticipate that the firm will report sales of $96.95 million, with estimates ranging from $95.00 million to $98.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Chemung Financial.
Chemung Financial (NASDAQ:CHMG – Get Rating) last released its earnings results on Thursday, April 21st. The bank reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.23. Chemung Financial had a net margin of 28.58% and a return on equity of 12.92%.
Several institutional investors have recently added to or reduced their stakes in the company. BHZ Capital Management LP grew its position in shares of Chemung Financial by 38.5% during the fourth quarter. BHZ Capital Management LP now owns 7,426 shares of the bank’s stock valued at $345,000 after purchasing an additional 2,065 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Chemung Financial by 9.3% during the third quarter. Dimensional Fund Advisors LP now owns 89,059 shares of the bank’s stock valued at $4,034,000 after buying an additional 7,559 shares during the last quarter. FJ Capital Management LLC grew its holdings in Chemung Financial by 1.2% during the 3rd quarter. FJ Capital Management LLC now owns 349,000 shares of the bank’s stock valued at $15,824,000 after buying an additional 4,000 shares in the last quarter. Alliancebernstein L.P. increased its stake in Chemung Financial by 34.2% in the 3rd quarter. Alliancebernstein L.P. now owns 65,383 shares of the bank’s stock worth $2,962,000 after acquiring an additional 16,672 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Chemung Financial by 142.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,016 shares of the bank’s stock worth $181,000 after acquiring an additional 2,358 shares in the last quarter. Hedge funds and other institutional investors own 36.07% of the company’s stock.
Shares of CHMG stock opened at $46.70 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72. Chemung Financial has a one year low of $41.42 and a one year high of $49.50. The company’s fifty day moving average price is $46.44 and its 200-day moving average price is $46.21. The company has a market capitalization of $218.09 million, a price-to-earnings ratio of 8.18 and a beta of 0.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 17th. Chemung Financial’s dividend payout ratio (DPR) is presently 21.72%.
About Chemung Financial (Get Rating)
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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