Chemung Financial (NASDAQ:CHMG) Shares Pass Above 200-Day Moving Average - Time to Sell?

Chemung Financial Co. (NASDAQ:CHMG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.06 and traded as high as $48.39. Chemung Financial shares last traded at $47.18, with a volume of 8,572 shares traded.

Chemung Financial Stock Performance

The company has a market cap of $224.29 million, a price-to-earnings ratio of 9.04 and a beta of 0.15. The firm has a 50-day simple moving average of $46.88 and a 200 day simple moving average of $45.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.42.

Chemung Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.24 annualized dividend and a dividend yield of 2.63%. Chemung Financial's dividend payout ratio (DPR) is 23.75%.

Insider Activity at Chemung Financial

In other Chemung Financial news, EVP Thomas W. Wirth sold 764 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.40, for a total value of $33,921.60. Following the transaction, the executive vice president now directly owns 3,926 shares of the company's stock, valued at approximately $174,314.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chemung Financial

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in Chemung Financial by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,618 shares of the bank's stock valued at $558,000 after acquiring an additional 397 shares during the last quarter. Renaissance Technologies LLC raised its holdings 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 acquiring an additional 1,400 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Chemung Financial by 8.1% during the first 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 increased its position in Chemung Financial by 8.7% during the 1st quarter. Acadian Asset Management LLC now owns 25,057 shares of the bank's stock worth $1,063,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. acquired a new position in Chemung Financial in the 2nd quarter valued at about $200,000. 47.50% of the stock is currently owned by hedge funds and other institutional investors.

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.