Chemung Financial (NASDAQ:CHMG) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Chemung Financial (NASDAQ:CHMG) released its earnings results on Tuesday. The bank reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.06, Yahoo Finance reports. Chemung Financial had a net margin of 16.02% and a return on equity of 11.33%. The business had revenue of $38.28 million during the quarter, compared to analysts’ expectations of $24.00 million.

Chemung Financial Trading Down 0.0 %

CHMG stock opened at $47.18 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $47.00 and a two-hundred day moving average price of $45.16. Chemung Financial has a one year low of $38.75 and a one year high of $51.36. The stock has a market cap of $224.20 million, a price-to-earnings ratio of 9.04 and a beta of 0.15.

Chemung Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were paid a $0.31 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.24 annualized dividend and a dividend yield of 2.63%. Chemung Financial’s dividend payout ratio is presently 23.75%.

Insiders Place Their Bets

In other Chemung Financial news, EVP Thomas W. Wirth sold 764 shares of Chemung Financial stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.40, for a total transaction of $33,921.60. Following the completion of the transaction, the executive vice president now directly owns 3,926 shares of the company’s stock, valued at $174,314.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.