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

Wall Street analysts expect Chemung Financial Co. (NASDAQ:CHMG – Get 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:CHMG – Get 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.

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