Chemung Financial Co. (NASDAQ:CHMG) Director Joseph F. Iv Meade Purchases 700 Shares

Chemung Financial Co. (NASDAQ:CHMGGet Rating) Director Joseph F. Iv Meade purchased 700 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were acquired at an average cost of $47.00 per share, for a total transaction of $32,900.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $47,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Chemung Financial Trading Up 0.6 %

Chemung Financial stock opened at $47.29 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $221.22 million, a price-to-earnings ratio of 7.97 and a beta of 0.03. Chemung Financial Co. has a 1 year low of $40.74 and a 1 year high of $48.75. The firm’s 50 day moving average price is $43.49 and its two-hundred day moving average price is $44.55.

Chemung Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Tuesday, December 20th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, December 19th. Chemung Financial’s payout ratio is 20.91%.

Hedge Funds Weigh In On Chemung Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in Chemung Financial by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 87,558 shares of the bank’s stock worth $3,666,000 after purchasing an additional 1,500 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Chemung Financial by 7.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 104,103 shares of the bank’s stock worth $4,359,000 after purchasing an additional 7,368 shares in the last quarter. Sandy Spring Bank purchased a new position in Chemung Financial during the 3rd quarter worth approximately $63,000. Chemung Canal Trust Co. grew its position in Chemung Financial by 13.2% during the 3rd quarter. Chemung Canal Trust Co. now owns 347,754 shares of the bank’s stock worth $14,560,000 after purchasing an additional 40,522 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Chemung Financial during the 3rd quarter worth approximately $255,000. 35.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Chemung Financial in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock.

Chemung Financial Company Profile

(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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Insider Buying and Selling by Quarter for Chemung Financial (NASDAQ:CHMG)

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