Chemung Financial (CHMG) Projected to Post Earnings on Thursday

Chemung Financial (NASDAQ:CHMG - Get Free Report) is expected to release its earnings data before the market opens on Thursday, January 23rd. Analysts expect Chemung Financial to post earnings of $1.19 per share and revenue of $24,830.00 billion for the quarter.

Chemung Financial (NASDAQ:CHMG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.19 EPS for the quarter, beating the consensus estimate of $1.13 by $0.06. Chemung Financial had a return on equity of 10.60% and a net margin of 14.56%. The business had revenue of $38.28 million for the quarter, compared to the consensus estimate of $24.00 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 Stock Performance

NASDAQ CHMG traded down $0.68 on Thursday, hitting $46.65. 5,459 shares of the stock traded hands, compared to its average volume of 6,676. The firm has a market capitalization of $222.05 million, a price-to-earnings ratio of 10.32 and a beta of 0.19. The business's fifty day moving average is $50.63 and its two-hundred day moving average is $48.23. 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 has a 12 month low of $39.00 and a 12 month high of $55.73.

Chemung Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.24 annualized dividend and a dividend yield of 2.66%. Chemung Financial's payout ratio is 27.43%.

Wall Street Analyst Weigh In

CHMG has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of Chemung Financial from $54.00 to $60.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler began coverage on shares of Chemung Financial in a research note on Friday, December 20th. They set a "neutral" rating and a $57.00 price target on the stock. Finally, StockNews.com lowered shares of Chemung Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th.

Insider Buying and Selling

In related news, EVP Loren D. Cole sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $51.21, for a total transaction of $51,210.00. Following the completion of the transaction, the executive vice president now owns 4,771 shares of the company's stock, valued at approximately $244,322.91. The trade was a 17.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.04% of the stock is currently owned by insiders.

About Chemung Financial

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.