Chemung Financial (CHMG) to Release Quarterly Earnings on Thursday

Chemung Financial (NASDAQ:CHMG - Get Free Report) is set to post its quarterly earnings results on Thursday, April 18th.

Chemung Financial (NASDAQ:CHMG - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.36). Chemung Financial had a net margin of 18.17% and a return on equity of 12.85%. The business had revenue of $23.77 million during the quarter, compared to the consensus estimate of $23.52 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 Price Performance

Shares of CHMG traded up $0.26 during midday trading on Wednesday, hitting $39.80. The company's stock had a trading volume of 2,325 shares, compared to its average volume of 6,625. Chemung Financial has a one year low of $33.72 and a one year high of $51.36. The company's fifty day simple moving average is $42.04 and its two-hundred day simple moving average is $44.32. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $189.05 million, a price-to-earnings ratio of 7.54 and a beta of 0.20.

Chemung Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were paid a $0.31 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. Chemung Financial's payout ratio is 23.48%.

Institutional Investors Weigh In On Chemung Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its position in Chemung Financial by 1.5% during the 4th quarter. Millennium Management LLC now owns 13,602 shares of the bank's stock worth $624,000 after acquiring an additional 200 shares during the last quarter. Geode Capital Management LLC grew its position in Chemung Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 34,002 shares of the bank's stock worth $1,559,000 after acquiring an additional 211 shares during the last quarter. Royal Bank of Canada lifted its holdings in Chemung Financial by 10.4% during the 4th quarter. Royal Bank of Canada now owns 3,589 shares of the bank's stock worth $179,000 after buying an additional 338 shares during the period. UBS Group AG lifted its holdings in Chemung Financial by 79.9% during the 1st quarter. UBS Group AG now owns 1,283 shares of the bank's stock worth $60,000 after buying an additional 570 shares during the period. Finally, Citigroup Inc. acquired a new position in Chemung Financial during the 1st quarter worth about $28,000. Institutional investors own 47.50% 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.