Key Points
- Insider sale: Director Daniel Fariello sold 748 shares on Feb. 4 at an average of $61.13 for about $45,725, reducing his holding by 9.52% to 7,110 shares (≈$434,634).
- Stock and market snapshot: CHMG rose 2.3% to $64.48 on Friday with above‑average volume; market cap ≈$308.8M and a P/E of ~20.5.
- Financials & sentiment: Chemung Financial reported Q earnings of $1.61/share (beat by $0.01) on $30.52M revenue, pays a $0.34 quarterly dividend (≈2.1% yield), but analysts show a consensus "Reduce" rating with an average target of $57.00.
Chemung Financial Corp (NASDAQ:CHMG - Get Free Report) insider Daniel Fariello sold 748 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $61.13, for a total value of $45,725.24. Following the sale, the insider owned 7,110 shares in the company, valued at approximately $434,634.30. This trade represents a 9.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Chemung Financial Stock Up 2.3%
Chemung Financial stock traded up $1.48 during trading on Friday, reaching $64.48. 9,519 shares of the company's stock were exchanged, compared to its average volume of 6,627. Chemung Financial Corp has a 52-week low of $40.71 and a 52-week high of $64.25. The firm has a market cap of $308.84 million, a price-to-earnings ratio of 20.53 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 0.98. The company's 50-day moving average is $56.49 and its two-hundred day moving average is $53.49.
Chemung Financial (NASDAQ:CHMG - Get Free Report) last released its quarterly earnings results on Monday, January 26th. The bank reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. Chemung Financial had a net margin of 10.73% and a return on equity of 11.80%. The business had revenue of $30.52 million during the quarter, compared to the consensus estimate of $29.48 million. On average, analysts predict that Chemung Financial Corp will post 5.38 earnings per share for the current year.
Chemung Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 19th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, December 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.1%. Chemung Financial's payout ratio is currently 43.31%.
Analyst Ratings Changes
CHMG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Chemung Financial from $60.00 to $64.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chemung Financial in a research note on Monday, December 29th. Wall Street Zen raised shares of Chemung Financial from a "hold" rating to a "buy" rating in a research report on Saturday, December 27th. Finally, Zacks Research cut shares of Chemung Financial from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 3rd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chemung Financial currently has a consensus rating of "Reduce" and an average target price of $57.00.
Get Our Latest Stock Report on Chemung Financial
Institutional Investors Weigh In On Chemung Financial
A number of hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey bought a new stake in Chemung Financial in the 2nd quarter worth $36,000. Tower Research Capital LLC TRC boosted its position in shares of Chemung Financial by 90.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 895 shares of the bank's stock worth $43,000 after purchasing an additional 426 shares in the last quarter. Russell Investments Group Ltd. increased its position in Chemung Financial by 81.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 920 shares of the bank's stock valued at $48,000 after buying an additional 412 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Chemung Financial by 108.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,084 shares of the bank's stock valued at $57,000 after acquiring an additional 563 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Chemung Financial during the 2nd quarter valued at $67,000. 47.50% of the stock is currently owned by institutional investors.
About Chemung Financial
(
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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