$22.51 Million in Sales Expected for Chemung Financial Co. (NASDAQ:CHMG) This Quarter

Equities analysts predict that Chemung Financial Co. (NASDAQ:CHMGGet 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:CHMGGet 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%.

Separately, StockNews.com initiated coverage on Chemung Financial in a research note on Thursday. They issued a “hold” rating for the company.

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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Earnings History and Estimates for Chemung Financial (NASDAQ:CHMG)

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