Zacks: Analysts Expect Chemung Financial Co. (NASDAQ:CHMG) Will Announce Earnings of $1.19 Per Share

Analysts expect that Chemung Financial Co. (NASDAQ:CHMGGet Rating) will announce earnings per share (EPS) of $1.19 for the current quarter, Zacks reports. Two analysts have provided estimates for Chemung Financial’s earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.15. Chemung Financial reported earnings per share of $1.45 in the same quarter last year, which would indicate a negative year over year growth rate of 17.9%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Chemung Financial will report full-year earnings of $5.11 per share for the current financial year, with EPS estimates ranging from $5.03 to $5.19. For the next fiscal year, analysts forecast that the firm will report earnings of $5.30 per share, with EPS estimates ranging from $5.25 to $5.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Chemung Financial.

Chemung Financial (NASDAQ:CHMGGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The bank reported $1.46 earnings per share for the quarter, topping the consensus estimate 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 started coverage on shares of Chemung Financial in a report on Thursday. They issued a “hold” rating for the company.

Shares of NASDAQ CHMG opened at $46.35 on Wednesday. Chemung Financial has a twelve month low of $41.42 and a twelve month high of $49.50. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $216.45 million, a price-to-earnings ratio of 8.12 and a beta of 0.06. The firm has a 50-day moving average of $46.45 and a two-hundred day moving average of $46.21.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, March 17th. Chemung Financial’s payout ratio is 21.72%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Chemung Financial during the 1st quarter worth about $185,000. O Shaughnessy Asset Management LLC raised its holdings in 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 buying an additional 2,358 shares during the period. Two Sigma Advisers LP acquired a new stake in Chemung Financial during the 3rd quarter worth about $258,000. BHZ Capital Management LP raised its holdings in Chemung Financial by 38.5% during the 4th quarter. BHZ Capital Management LP now owns 7,426 shares of the bank’s stock worth $345,000 after buying an additional 2,065 shares during the period. Finally, Susquehanna International Group LLP raised its holdings in Chemung Financial by 45.1% during the 4th quarter. Susquehanna International Group LLP now owns 8,573 shares of the bank’s stock worth $392,000 after buying an additional 2,666 shares during the period. Hedge funds and other institutional investors own 36.07% of the company’s stock.

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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