Loren D. Cole Sells 1,000 Shares of Chemung Financial Co. (NASDAQ:CHMG) Stock

Chemung Financial Co. (NASDAQ:CHMG - Get Free Report) EVP Loren D. Cole sold 1,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $51.21, for a total value of $51,210.00. Following the sale, the executive vice president now owns 4,771 shares of the company's stock, valued at $244,322.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Chemung Financial Stock Down 2.7 %

Shares of NASDAQ CHMG traded down $1.38 during mid-day trading on Thursday, reaching $49.83. The company had a trading volume of 20,089 shares, compared to its average volume of 9,991. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $237.19 million, a price-to-earnings ratio of 11.26 and a beta of 0.15. The stock has a fifty day moving average of $47.36 and a two-hundred day moving average of $45.68. Chemung Financial Co. has a 12-month low of $39.00 and a 12-month high of $51.72.

Chemung Financial (NASDAQ:CHMG - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.06. The firm had revenue of $38.28 million for the quarter, compared to analyst estimates of $24.00 million. Chemung Financial had a net margin of 14.56% and a return on equity of 10.91%. As a group, equities research analysts expect that Chemung Financial Co. will post 4.94 EPS for the current year.

Chemung Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, September 19th. This represents a $1.24 annualized dividend and a dividend yield of 2.49%. Chemung Financial's dividend payout ratio is 27.43%.

Institutional Trading of Chemung Financial

A number of institutional investors have recently bought and sold shares of the company. Bright Futures Wealth Management LLC. purchased a new stake in shares of Chemung Financial during the 2nd quarter worth about $200,000. Bank of New York Mellon Corp boosted its stake in shares of Chemung Financial by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,618 shares of the bank's stock worth $558,000 after acquiring an additional 397 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Chemung Financial by 8.1% during the 1st quarter. Empowered Funds LLC now owns 18,733 shares of the bank's stock valued at $796,000 after acquiring an additional 1,400 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Chemung Financial by 8.7% during the first quarter. Acadian Asset Management LLC now owns 25,057 shares of the bank's stock valued at $1,063,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Chemung Financial by 4.3% in the second quarter. Renaissance Technologies LLC now owns 34,322 shares of the bank's stock worth $1,647,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds 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.