Chemung Financial (NASDAQ:CHMG - Get Free Report) had its price target cut by Keefe, Bruyette & Woods from $60.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 27.11% from the stock's current price.
Chemung Financial Stock Down 0.8 %
Shares of CHMG stock traded down $0.36 during trading hours on Tuesday, hitting $43.27. 4,019 shares of the company were exchanged, compared to its average volume of 13,410. The stock has a market capitalization of $207.26 million, a price-to-earnings ratio of 8.72 and a beta of 0.10. Chemung Financial has a one year low of $40.71 and a one year high of $55.73. The business's 50-day simple moving average is $46.85 and its two-hundred day simple moving average is $48.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.87.
Chemung Financial (NASDAQ:CHMG - Get Free Report) last released its earnings results on Friday, April 18th. The bank reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.04. The company had revenue of $25.71 million for the quarter, compared to the consensus estimate of $25.90 million. Chemung Financial had a return on equity of 11.47% and a net margin of 15.70%. Sell-side analysts predict that Chemung Financial will post 5.38 EPS for the current fiscal year.
Institutional Investors Weigh In On Chemung Financial
A number of institutional investors have recently modified their holdings of CHMG. Barclays PLC lifted its holdings in Chemung Financial by 167.9% in the third quarter. Barclays PLC now owns 9,236 shares of the bank's stock worth $444,000 after acquiring an additional 5,788 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chemung Financial by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 76,831 shares of the bank's stock worth $3,690,000 after purchasing an additional 1,968 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Chemung Financial by 233.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,720 shares of the bank's stock valued at $467,000 after purchasing an additional 6,802 shares during the period. Empowered Funds LLC boosted its position in Chemung Financial by 4.9% during the 4th quarter. Empowered Funds LLC now owns 22,278 shares of the bank's stock valued at $1,087,000 after purchasing an additional 1,033 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Chemung Financial during the 4th quarter worth $231,000. Institutional investors own 47.50% of the company's stock.
Chemung Financial Company Profile
(
Get Free Report)
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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