Chemung Financial (CHMG) Projected to Post Quarterly Earnings on Thursday

Chemung Financial (NASDAQ:CHMG) is expected to be issuing its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.19 per share and revenue of $24,830.00 billion for the quarter.

Chemung Financial (NASDAQ:CHMG) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.19 EPS for the quarter, topping the consensus estimate of $1.13 by $0.06. Chemung Financial had a return on equity of 10.60% and a net margin of 14.56%. The firm had revenue of $38.28 million for the quarter, compared to analysts’ expectations of $24.00 million. On average, analysts expect Chemung Financial to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Chemung Financial Stock Performance

Shares of CHMG opened at $47.10 on Tuesday. The stock has a market cap of $224.15 million, a price-to-earnings ratio of 10.42 and a beta of 0.19. Chemung Financial has a one year low of $39.00 and a one year high of $55.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50-day moving average of $50.40 and a two-hundred day moving average of $48.26.

Chemung Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, December 19th. Chemung Financial’s dividend payout ratio (DPR) is presently 27.43%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler began coverage on shares of Chemung Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $57.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on Chemung Financial from $54.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered Chemung Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

Insider Buying and Selling at Chemung Financial

In other news, EVP Loren D. Cole sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $51.21, for a total transaction of $51,210.00. Following the completion of the transaction, the executive vice president now directly owns 4,771 shares in the company, valued at approximately $244,322.91. This represents a 17.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph F. Iv Meade purchased 592 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was acquired at an average price of $47.33 per share, with a total value of $28,019.36. Following the completion of the transaction, the director now owns 3,710 shares in the company, valued at approximately $175,594.30. This trade represents a 18.99 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.04% of the company’s stock.

Chemung Financial Company Profile

Chemung Financial Corporation operates as a bank 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.