Chemung Financial Co. (NASDAQ:CHMG) Shares Purchased by Barclays PLC

Barclays PLC grew its stake in Chemung Financial Co. (NASDAQ:CHMG - Free Report) by 167.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,236 shares of the bank's stock after purchasing an additional 5,788 shares during the period. Barclays PLC owned approximately 0.19% of Chemung Financial worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CHMG. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 397 shares in the last quarter. Empowered Funds LLC increased its position in Chemung Financial by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 21,245 shares of the bank's stock valued at $1,020,000 after acquiring an additional 1,072 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Chemung Financial by 4.3% during the second quarter. Renaissance Technologies LLC now owns 34,322 shares of the bank's stock worth $1,647,000 after purchasing an additional 1,400 shares during the period. Geode Capital Management LLC boosted its stake in shares of Chemung Financial by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 76,831 shares of the bank's stock worth $3,690,000 after acquiring an additional 1,968 shares in the last quarter. Finally, Martingale Asset Management L P grew its position in shares of Chemung Financial by 61.8% in the third quarter. Martingale Asset Management L P now owns 12,078 shares of the bank's stock valued at $580,000 after purchasing an additional 4,611 shares during the last quarter. 47.50% of the stock is currently owned by hedge funds and other institutional investors.

Chemung Financial Trading Up 1.0 %

Shares of NASDAQ CHMG traded up $0.45 during trading on Friday, hitting $47.10. 6,721 shares of the company traded hands, compared to its average volume of 8,841. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $224.20 million, a P/E ratio of 10.42 and a beta of 0.19. The company has a 50-day moving average price of $50.50 and a 200-day moving average price of $48.25. Chemung Financial Co. has a 1 year low of $39.00 and a 1 year high of $55.73.

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 business had revenue of $38.28 million for the quarter, compared to analyst estimates of $24.00 million. Chemung Financial had a return on equity of 10.60% and a net margin of 14.56%. On average, equities analysts predict that Chemung Financial Co. will post 4.94 EPS for the current year.

Chemung Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, December 19th. Chemung Financial's dividend payout ratio is presently 27.43%.

Analyst Ratings Changes

Several brokerages recently issued reports on CHMG. StockNews.com downgraded shares of Chemung Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Piper Sandler began coverage on Chemung Financial in a research note on Friday, December 20th. They issued a "neutral" rating and a $57.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their price target on Chemung Financial from $54.00 to $60.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Insider Activity

In other news, EVP Loren D. Cole sold 1,000 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph F. Iv Meade purchased 592 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were purchased at an average cost of $47.33 per share, for a total transaction of $28,019.36. Following the purchase, the director now directly owns 3,710 shares in the company, valued at $175,594.30. This trade represents a 18.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.04% of the company's stock.

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.