Chemung Financial (NASDAQ:CHMG) Director Thomas Tyrrell Sells 788 Shares

Chemung Financial Corp (NASDAQ:CHMG) Director Thomas Tyrrell sold 788 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $65.33, for a total value of $51,480.04. Following the transaction, the director owned 8,050 shares of the company’s stock, valued at approximately $525,906.50. This trade represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Chemung Financial Trading Up 1.0%

Shares of NASDAQ:CHMG opened at $67.51 on Tuesday. The stock has a 50 day moving average of $57.12 and a 200 day moving average of $55.68. The company has a market cap of $325.40 million, a PE ratio of 17.81 and a beta of 0.45. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Chemung Financial Corp has a 12-month low of $43.00 and a 12-month high of $70.83.

Chemung Financial (NASDAQ:CHMG) last announced its quarterly earnings data on Friday, April 17th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. The company had revenue of $29.90 million during the quarter, compared to the consensus estimate of $29.21 million. Chemung Financial had a return on equity of 12.68% and a net margin of 12.77%. As a group, equities research analysts expect that Chemung Financial Corp will post 6.75 EPS for the current year.

Chemung Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.0%. Chemung Financial’s payout ratio is 35.88%.

Analyst Ratings Changes

A number of research firms recently commented on CHMG. Zacks Research raised Chemung Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Chemung Financial in a report on Friday, March 27th. Wall Street Zen raised Chemung Financial from a “hold” rating to a “buy” rating in a report on Sunday, April 19th. Finally, Keefe, Bruyette & Woods boosted their price target on Chemung Financial from $60.00 to $64.00 and gave the stock a “market perform” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Chemung Financial has an average rating of “Moderate Buy” and an average target price of $64.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PL Capital Advisors LLC lifted its holdings in Chemung Financial by 890.1% in the 3rd quarter. PL Capital Advisors LLC now owns 59,127 shares of the bank’s stock worth $3,105,000 after purchasing an additional 53,155 shares in the last quarter. Rhumbline Advisers lifted its holdings in Chemung Financial by 27.7% in the 2nd quarter. Rhumbline Advisers now owns 4,074 shares of the bank’s stock worth $197,000 after purchasing an additional 883 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Chemung Financial by 16.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,278 shares of the bank’s stock worth $110,000 after acquiring an additional 330 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Chemung Financial by 81.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 920 shares of the bank’s stock worth $48,000 after acquiring an additional 412 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Chemung Financial by 90.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 895 shares of the bank’s stock worth $43,000 after acquiring an additional 426 shares in the last quarter. 47.50% of the stock is owned by hedge funds and other institutional investors.

Chemung Financial Company Profile

Chemung Financial Corporation serves as the bank holding company for Chemung Canal Trust Company, a community bank founded in 1833 and headquartered in Elmira, New York. With deep historical roots in the Southern Tier of New York, the company has expanded its footprint to serve customers throughout the region, including northern Pennsylvania. Chemung Financial emphasizes relationship-driven banking by combining personalized service with modern delivery channels.

Through its subsidiary, Chemung Canal Trust Company, Chemung Financial offers a comprehensive suite of financial products and services.