Chemung Financial (NASDAQ:CHMG – Get Free Report) posted its quarterly earnings data on Tuesday. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05, Zacks reports. Chemung Financial had a return on equity of 10.60% and a net margin of 14.56%.
Chemung Financial Trading Up 14.6 %
NASDAQ CHMG opened at $53.98 on Thursday. The stock’s 50-day simple moving average is $49.93 and its two-hundred day simple moving average is $48.38. Chemung Financial has a twelve month low of $39.00 and a twelve month high of $55.73. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $256.94 million, a price-to-earnings ratio of 11.94 and a beta of 0.19.
Chemung Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were given a $0.31 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.24 annualized dividend and a yield of 2.30%. Chemung Financial’s dividend payout ratio (DPR) is presently 27.43%.
Insider Activity
Analysts Set New Price Targets
Several research firms have recently weighed in on CHMG. Keefe, Bruyette & Woods increased their price target on Chemung Financial from $54.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com downgraded Chemung Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler assumed coverage on shares of Chemung Financial in a report on Friday, December 20th. They set a “neutral” rating and a $57.00 target price on the stock.
Read Our Latest Report on CHMG
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.
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