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

Chemung Financial (NASDAQ:CHMG) will likely 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 released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.19 earnings per share for the quarter, beating 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 firm 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 Down 0.1 %

Chemung Financial stock opened at $47.03 on Wednesday. Chemung Financial has a 1-year low of $39.00 and a 1-year high of $55.73. The firm has a market capitalization of $223.86 million, a price-to-earnings ratio of 10.40 and a beta of 0.19. The firm’s fifty day moving average price is $50.31 and its two-hundred day moving average price is $48.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

Chemung Financial Dividend Announcement

The firm also recently disclosed 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 dividend yield of 2.64%. The ex-dividend date was Thursday, December 19th. Chemung Financial’s dividend payout ratio (DPR) is 27.43%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Chemung Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods raised their price target on shares of Chemung Financial from $54.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler assumed 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 on the stock.

Insider Activity at Chemung Financial

In related news, Director Joseph F. Iv Meade acquired 592 shares of the stock in a transaction on Wednesday, January 15th. The shares were 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. The trade was a 18.99 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Loren D. Cole sold 1,000 shares of Chemung Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $51.21, for a total transaction of $51,210.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 12.04% of the stock is owned by insiders.

About Chemung Financial

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.