Chemung Financial (CHMG) to Release Earnings on Thursday

Chemung Financial (NASDAQ:CHMG - Get Free Report) will likely be posting its quarterly earnings results before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $1.23 per share and revenue of $25.90 million for the quarter.

Chemung Financial (NASDAQ:CHMG - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. Chemung Financial had a net margin of 15.70% and a return on equity of 11.47%. On average, analysts expect Chemung Financial to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Chemung Financial Stock Performance

CHMG stock traded up $1.11 during midday trading on Tuesday, reaching $42.40. The company had a trading volume of 12,075 shares, compared to its average volume of 13,333. The firm has a market capitalization of $203.05 million, a PE ratio of 8.55 and a beta of 0.10. The stock has a 50 day moving average price of $48.18 and a 200 day moving average price of $48.96. Chemung Financial has a fifty-two week low of $39.00 and a fifty-two week high of $55.73. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.24.

Chemung Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a $0.32 dividend. This is an increase from Chemung Financial's previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, March 18th. This represents a $1.28 annualized dividend and a dividend yield of 3.02%. Chemung Financial's dividend payout ratio (DPR) is 25.81%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler began coverage on Chemung Financial in a research report on Friday, December 20th. They issued a "neutral" rating and a $57.00 target price on the stock.

Insider Buying and Selling at Chemung Financial

In other Chemung Financial news, Director Joseph F. Iv Meade bought 592 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were purchased at an average price of $47.33 per share, with a total value of $28,019.36. Following the purchase, the director now directly owns 3,710 shares of the company's stock, valued at approximately $175,594.30. The trade was a 18.99 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 12.04% of the stock is currently owned by company 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.