Stock Mover of the Day: What’s Chemical Financial Corporation Upside After Reaching 52-Week High?

Stock Mover of the Day: What's Chemical Financial Corporation Upside After Reaching 52 Week High?

The stock of Chemical Financial Corporation (NASDAQ:CHFC) hit a new 52-week high and has $77.00 target or 56.00% above today’s $49.36 share price. The 7 months bullish chart indicates low risk for the $2.02 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $77.00 price target is reached, the company will be worth $1.13B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 371,588 shares traded hands or 6.85% up from the average. Chemical Financial Corporation (NASDAQ:CHFC) has risen 37.01% since April 11, 2016 and is uptrending. It has outperformed by 30.86% the S&P500.

Chemical Financial Corporation (NASDAQ:CHFC) Ratings Coverage

Out of 4 analysts covering Chemical Financial (NASDAQ:CHFC), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Chemical Financial has been the topic of 4 analyst reports since January 27, 2016 according to StockzIntelligence Inc. The stock of Chemical Financial Corporation (NASDAQ:CHFC) earned “Outperform” rating by FIG Partners on Friday, January 29. As per Wednesday, January 27, the company rating was upgraded by Keefe Bruyette & Woods. Sandler O’Neill upgraded the stock to “Buy” rating in Thursday, January 28 report. Raymond James initiated Chemical Financial Corporation (NASDAQ:CHFC) on Wednesday, March 2 with “Strong Buy” rating.

According to Zacks Investment Research, “CHEMICAL FINANCIAL CORP. is a multi-bank holding company. The company business is concentrated in a single industry segment, commercial banking. Subsidiaries offer a full range of commercial banking and fiduciary services. These include accepting deposits, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit services, automated teller machines, money transfer services, corporate and personal trust services and other banking services.”

Insitutional Activity: The institutional sentiment decreased to 1.14 in Q2 2016. Its down 1.21, from 2.35 in 2016Q1. The ratio dived, as 13 funds sold all Chemical Financial Corporation shares owned while 51 reduced positions. 19 funds bought stakes while 54 increased positions. They now own 26.80 million shares or 1.63% more from 26.37 million shares in 2016Q1.
Legal & General Gru Plc accumulated 8,997 shares or 0% of the stock. Tiaa Cref Inv Mngmt Llc accumulated 178,259 shares or 0.01% of the stock. Ngam Ltd Partnership owns 98,040 shares or 0.05% of their US portfolio. Swiss Bancshares owns 61,633 shares or 0% of their US portfolio. Regions Corporation has invested 0.01% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC). Renaissance Ltd last reported 321,054 shares in the company. Blackrock Institutional Tru Company Na holds 0.01% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC) for 1.10M shares. The Switzerland-based Credit Suisse Ag has invested 0% in Chemical Financial Corporation (NASDAQ:CHFC). Susquehanna Intl Group Limited Liability Partnership last reported 0% of its portfolio in the stock. Krasney Fincl Limited Liability has 1.28% invested in the company for 147,874 shares. Parametric Lc holds 0.01% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC) for 116,764 shares. Deutsche Natl Bank Ag accumulated 0.01% or 217,014 shares. California Employees Retirement Systems reported 110,100 shares or 0.01% of all its holdings. State Bank Of America Corporation De last reported 345,951 shares in the company. Aspen last reported 0.48% of its portfolio in the stock.

Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 12 selling transactions for $36.65 million net activity. Shares for $2.36M were sold by TORGOW GARY on Monday, October 31. 4,500 shares were sold by Lievense Richard M., worth $198,153. Another trade for 800 shares valued at $35,640 was sold by GWIZDALA LORI A. Provost David T had sold 55,000 shares worth $2.36 million on Monday, October 31. Another trade for 37,902 shares valued at $1.71 million was sold by WEISS ARTHUR A. 34,456 Chemical Financial Corporation (NASDAQ:CHFC) shares with value of $1.56 million were sold by SHAFER THOMAS C. The insider KLEIN RONALD A sold 16,758 shares worth $758,192.

More important recent Chemical Financial Corporation (NASDAQ:CHFC) news were published by: Globenewswire.com which released: “Chemical Financial Corporation Reports 2016 Third Quarter Operating Results” on October 25, 2016, also Finance.Yahoo.com published article titled: “Chemical Financial Corporation Announces Third Quarter 2016 Earnings …”, Mlive.com published: “Chemical Financial Corp. announces Q1 2016 cash dividend” on January 20, 2016. More interesting news about Chemical Financial Corporation (NASDAQ:CHFC) was released by: Globenewswire.com and their article: “Chemical Financial Corporation Announces Fourth Quarter Cash Dividend” with publication date: November 09, 2016.

CHFC Company Profile

Chemical Financial Corporation (Corporation), incorporated on August 27, 1973, is a financial holding company. The Firm operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers a range of banking and fiduciary services and products. The Company’s services and products include business and personal checking accounts, savings and individual retirement accounts, time deposit instruments, electronically accessed banking products, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, access to insurance and investment products, corporate and personal wealth management services, and other banking services. It operates through an internal organizational structure of over four regional banking units. The Chemical Bank serves the markets through approximately 185 banking offices located in approximately 50 counties across Michigan’s Lower Peninsula. In addition to its banking offices, Chemical Bank operates over three loan production offices and approximately 200 automated teller machines, both on- and off-bank premises.

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