Key Points
- Insider sale: Daniel Fariello sold 242 shares on Feb. 3 at an average price of $61.57 for roughly $14,900, cutting his direct stake to 7,858 shares (a 2.99% decrease).
- Catalysts and outlook: Chemung Financial reported $1.61 EPS (beat by $0.01) and $30.52M revenue for the quarter and pays a $0.34 quarterly dividend (annualized $1.36, ~2.3% yield); analysts are mixed — Keefe, Bruyette & Woods lifted its price target to $64, while MarketBeat’s consensus rating is "Reduce" with a $57 target.
Chemung Financial Corp (NASDAQ:CHMG - Get Free Report) insider Daniel Fariello sold 242 shares of the business's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $61.57, for a total value of $14,899.94. Following the transaction, the insider directly owned 7,858 shares of the company's stock, valued at $483,817.06. This represents a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Chemung Financial Stock Performance
NASDAQ CHMG opened at $60.18 on Thursday. Chemung Financial Corp has a 52-week low of $40.71 and a 52-week high of $63.02. The firm has a market capitalization of $288.48 million, a price-to-earnings ratio of 20.04 and a beta of 0.48. The company's fifty day moving average is $56.25 and its two-hundred day moving average is $53.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.98 and a quick ratio of 0.98.
Chemung Financial (NASDAQ:CHMG - Get Free Report) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $30.52 million during the quarter, compared to the consensus estimate of $29.48 million. Chemung Financial had a net margin of 10.73% and a return on equity of 11.80%. Equities research analysts forecast that Chemung Financial Corp will post 5.38 EPS for the current year.
Chemung Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 19th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. Chemung Financial's payout ratio is currently 43.31%.
Hedge Funds Weigh In On Chemung Financial
Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Chemung Financial by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 178,338 shares of the bank's stock worth $9,366,000 after buying an additional 615 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Chemung Financial by 16.1% in the second quarter. Geode Capital Management LLC now owns 93,270 shares of the bank's stock valued at $4,521,000 after buying an additional 12,917 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Chemung Financial by 2.3% in the third quarter. Bridgeway Capital Management LLC now owns 77,763 shares of the bank's stock valued at $4,084,000 after buying an additional 1,771 shares during the period. Acadian Asset Management LLC increased its stake in Chemung Financial by 1.7% during the 2nd quarter. Acadian Asset Management LLC now owns 73,848 shares of the bank's stock worth $3,575,000 after acquiring an additional 1,251 shares during the period. Finally, PL Capital Advisors LLC raised its stake in Chemung Financial by 890.1% in the third quarter. PL Capital Advisors LLC now owns 59,127 shares of the bank's stock valued at $3,105,000 after purchasing an additional 53,155 shares in the last quarter. Institutional investors own 47.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Chemung Financial from $60.00 to $64.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Chemung Financial in a research report on Monday, December 29th. Zacks Research cut Chemung Financial from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen raised Chemung Financial from a "hold" rating to a "buy" rating in a research report on Saturday, December 27th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chemung Financial has an average rating of "Reduce" and a consensus target price of $57.00.
Get Our Latest Analysis on Chemung Financial
Chemung Financial Company Profile
(
Get Free Report)
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.
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