Chemung Financial (CHMG) Stock Forecast, Price & News

1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Chemung Financial in the last year. There are currently 1 hold rating for the stock. The consensus among Wall Street analysts is that investors should "hold" CHMG shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CHMG, but not buy additional shares or sell existing shares.
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1 Wall Street research analysts have issued 12-month target prices for Chemung Financial's stock. Their CHMG share price forecasts range from $49.00 to $49.00. On average, they expect the company's stock price to reach $49.00 in the next year. This suggests a possible upside of 29.2% from the stock's current price.
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Chemung Financial's stock was trading at $45.87 on January 1st, 2023. Since then, CHMG shares have decreased by 17.3% and is now trading at $37.94.
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Chemung Financial saw a increase in short interest in May. As of May 15th, there was short interest totaling 8,900 shares, an increase of 8.5% from the April 30th total of 8,200 shares. Based on an average trading volume of 14,100 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company's shares are short sold.
View Chemung Financial's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 20th 2023.
View our CHMG earnings forecast.

Chemung Financial Co. (NASDAQ:CHMG) announced its quarterly earnings results on Wednesday, October, 20th. The bank reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.23. The bank had revenue of $22.80 million for the quarter, compared to the consensus estimate of $21.44 million. Chemung Financial had a trailing twelve-month return on equity of 17.32% and a net margin of 26.19%.

Chemung Financial announced a quarterly dividend on Wednesday, May 17th. Investors of record on Tuesday, June 20th will be given a dividend of $0.31 per share on Monday, July 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, June 16th.
Read our dividend analysis for CHMG.

Chemung Financial (NASDAQ:CHMG) pays an annual dividend of $1.24 per share and currently has a dividend yield of 3.27%. The dividend payout ratio is 19.97%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CHMG will have a dividend payout ratio of 22.59% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CHMG.

Based on aggregate information from My MarketBeat watchlists, some companies that other Chemung Financial investors own include NVIDIA (NVDA), R1 RCM (RCM), AbbVie (ABBV), Advanced Micro Devices (AMD), AeroVironment (AVAV), Cinemark (CNK), General Mills (GIS), Invesco (IVZ), Kohl's (KSS) and Skechers U.S.A. (SKX).

Chemung Financial trades on the NASDAQ under the ticker symbol "CHMG."

Chemung Financial's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Chemung Canal Trust Co. (7.36%), Fourthstone LLC (6.94%), Dimensional Fund Advisors LP (2.28%), First Manhattan CO. LLC. (1.27%), Basswood Capital Management L.L.C. (0.92%) and Acadian Asset Management LLC (0.73%). Insiders that own company stock include David M Buicko, Denise V Gonick, G Thomas Jr Tranter, Jeffrey B Streeter, Jeffrey B Streeter, Jeffrey P Kenefick, Joseph F Iv Meade, Kimberly A Hazelton, Loren D Cole, Robert H Dalrymple, Ronald M Bentley, Thomas R Tyrrell, Thomas W Wirth and Thomas W Wirth.
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Shares of CHMG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CHMG stock can currently be purchased for approximately $37.94.

Chemung Financial (NASDAQ:CHMG) has a market capitalization of $178.70 million and generates $102.91 million in revenue each year. The bank earns $28.78 million in net income (profit) each year or $6.21 on an earnings per share basis.

The company employs 337 workers across the globe.

Chemung Financial's mailing address is ONE CHEMUNG CANAL PLZ P O BOX 1522, ELMIRA NY, 14901. The official website for the company is www.chemungcanal.com. The bank can be reached via phone at (607) 737-3711 or via email at kmckillip@chemungcanal.com.