Chemung Financial (CHMG) Expected to Announce Earnings on Thursday

Chemung Financial (NASDAQ:CHMG) is anticipated to release its earnings data before the market opens on Thursday, January 23rd. Analysts expect Chemung Financial to post 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. Chemung Financial had a net margin of 14.56% and a return on equity of 10.60%. The business had revenue of $38.28 million for the quarter, compared to analyst estimates 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

NASDAQ:CHMG opened at $47.33 on Thursday. The firm has a market cap of $225.24 million, a price-to-earnings ratio of 10.47 and a beta of 0.19. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.87 and a quick ratio of 0.87. Chemung Financial has a 1-year low of $39.00 and a 1-year high of $55.73. The firm’s fifty day moving average price is $50.71 and its 200 day moving average price is $48.23.

Chemung Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.24 annualized dividend and a yield of 2.62%. Chemung Financial’s payout ratio is currently 27.43%.

Analyst Upgrades and Downgrades

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

Insider Activity at Chemung Financial

In other Chemung Financial news, EVP Loren D. Cole sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $51.21, for a total value of $51,210.00. Following the completion of the sale, the executive vice president now directly owns 4,771 shares of the company’s stock, valued at $244,322.91. The trade was a 17.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.04% of the stock is owned by insiders.

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.