Chemung Financial Co. (NASDAQ:CHMG) Expected to Announce Earnings of $1.19 Per Share

Wall Street analysts expect Chemung Financial Co. (NASDAQ:CHMGGet Rating) to announce earnings per share (EPS) of $1.19 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chemung Financial’s earnings. The lowest EPS estimate is $1.15 and the highest is $1.22. Chemung Financial posted earnings of $1.45 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 17.9%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, 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 financial year, analysts anticipate 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 calculations are a mean average based on a survey of analysts that follow Chemung Financial.

Chemung Financial (NASDAQ:CHMGGet Rating) last announced 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 13.26%.

Separately, StockNews.com started coverage on shares of Chemung Financial in a research report on Saturday. They set a “hold” rating on the stock.

In other Chemung Financial news, EVP Loren D. Cole sold 1,150 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $45.12, for a total value of $51,888.00. Following the completion of the sale, the executive vice president now directly owns 3,520 shares of the company’s stock, valued at $158,822.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.32% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Citigroup Inc. acquired a new position in Chemung Financial during the 1st quarter valued at $28,000. Tompkins Financial Corp acquired a new position in Chemung Financial during the 1st quarter valued at $51,000. UBS Group AG raised its stake in shares of Chemung Financial by 79.9% in the 1st quarter. UBS Group AG now owns 1,283 shares of the bank’s stock valued at $60,000 after buying an additional 570 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Chemung Financial in the 1st quarter valued at $185,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Chemung Financial by 142.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,016 shares of the bank’s stock valued at $181,000 after buying an additional 2,358 shares in the last quarter. Institutional investors and hedge funds own 36.07% of the company’s stock.

NASDAQ CHMG opened at $44.66 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day simple moving average of $46.36 and a 200-day simple moving average of $46.12. The firm has a market capitalization of $208.74 million, a PE ratio of 7.82 and a beta of 0.06. Chemung Financial has a one year low of $41.42 and a one year high of $49.50.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, June 16th. Chemung Financial’s dividend payout ratio is 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.

Recommended Stories

Get a free copy of the Zacks research report on Chemung Financial (CHMG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.