Chemung Financial (CHMG) Stock Price, News & Analysis

Company Overview

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. It also offers commercial and agricultural loans comprising loans to small to mid-sized businesses; commercial and residential mortgage loans; and consumer loans, including home equity lines of credit and home equity term loans. In addition, the company provides interest rate swaps, letters of credit, employee benefit plans, insurance products, mutual fund, brokerage, and tax preparation services. Further, it offers guardian, custodian, trustee, investment, pension, estate planning, and employee benefit administrative services, as well as acts as an agent for pension, profit-sharing, and other employee benefit trusts. Chemung Financial Corporation was founded in 1833 and is headquartered in Elmira, New York.

Key Stats

• Today's Range: $50.10 to $50.75
• 50-Day Range: $46.30 to $51.86
• 52-Week Range: $39.00 to $52.59
• Volume: 10,402 shs
• Average Volume: 10,183 shs
• Market Capitalization: $238.48 million
• P/E Ratio: 11.08
• Dividend Yield: 2.48%
• Price Target: $49.00
• Consensus Rating: Hold

Chemung Financial Stock Analysis - MarketRank™

Chemung Financial scored higher than 79% of companies evaluated by MarketBeat, and ranked 281st out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.0 / 5
• Analyst Rating: Hold

Consensus Rating

Chemung Financial has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Chemung Financial has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 7.29%

Earnings Growth

Earnings for Chemung Financial are expected to grow by 7.29% in the coming year, from $4.94 to $5.30 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Chemung Financial is 11.08, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.33.

Price to Earnings Ratio vs. Sector

The P/E ratio of Chemung Financial is 11.08, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 49.60.

Price to Book Value per Share Ratio

Chemung Financial has a P/B Ratio of 1.21. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.39% of the float of Chemung Financial has been sold short.

Short Interest Ratio / Days to Cover

Chemung Financial has a short interest ratio ("days to cover") of 1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Chemung Financial has recently increased by 25.45%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Chemung Financial pays a meaningful dividend of 2.41%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Chemung Financial does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Chemung Financial is 27.43%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Chemung Financial will have a dividend payout ratio of 23.40% next year. This indicates that Chemung Financial will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 3.2 / 5
• Environmental Score: -0.51

Percentage of Shares Shorted

0.39% of the float of Chemung Financial has been sold short.

Short Interest Ratio / Days to Cover

Chemung Financial has a short interest ratio ("days to cover") of 1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Chemung Financial has recently increased by 25.45%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.1 / 5
• News Sentiment: 0.81

News Sentiment

Chemung Financial has a news sentiment score of 0.81. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for Chemung Financial this week, compared to 1 article on an average week.

MarketBeat Follows

Only 1 people have added Chemung Financial to their MarketBeat watchlist in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Chemung Financial insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $51,210.00 in company stock.

Percentage Held by Insiders

12.04% of the stock of Chemung Financial is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

47.50% of the stock of Chemung Financial is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CHMG Stock Analysis - Frequently Asked Questions

How have CHMG shares performed this year?

Chemung Financial's stock was trading at $49.80 at the beginning of 2024. Since then, CHMG shares have increased by 0.6% and is now trading at $50.10.
View the best growth stocks for 2024 here.

How were Chemung Financial's earnings last quarter?

Chemung Financial Co. (NASDAQ:CHMG) 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. The bank earned $38.28 million during the quarter, compared to analysts' expectations of $24 million. Chemung Financial had a trailing twelve-month return on equity of 10.60% and a net margin of 14.56%.

Who are Chemung Financial's major shareholders?

Chemung Financial's top institutional investors include Chemung Canal Trust Co. (7.07%), Fourthstone LLC (6.57%), Geode Capital Management LLC (1.61%) and State Street Corp (1.03%). Insiders that own company stock include Ronald M Bentley, G Thomas Jr Tranter, Thomas R Tyrrell, Loren D Cole, Denise V Gonick, Thomas W Wirth, Joseph F Iv Meade, Jeffrey P Kenefick, Daniel D Fariello and Raimundo C Archibold Jr.
View institutional ownership trends.

How do I buy shares of Chemung Financial?

Shares of CHMG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Chemung Financial own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Chemung Financial investors own include American Water Works (AWK), Waste Connections (WCN), The RMR Group (RMR), DiamondRock Hospitality (DRH), AUO (AUOTY), iShares Micro-Cap ETF (IWC) and Voyager Therapeutics (VYGR).

Company Calendar

• Ex-Dividend for 10/1 Dividend: 9/19/2024
• Dividend Payable: 10/01/2024
• Last Earnings: 10/22/2024
• Today: 11/21/2024
• Ex-Dividend for 1/2 Dividend: 12/19/2024
• Fiscal Year End: 12/31/2024
• Dividend Payable: 1/02/2025
• Next Earnings (Estimated): 1/23/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Banking
• Current Symbol: NASDAQ:CHMG
• CUSIP: N/A
• CIK: 763563
• Web: www.chemungcanal.com
• Phone: (607) 737-3711
• Fax: N/A
• Employees: 340
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $49.00
• High Stock Price Target: $49.00
• Low Stock Price Target: $49.00
• Potential Upside/Downside: -2.2%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 1 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $4.52
• Trailing P/E Ratio: 11.08
• Forward P/E Ratio: 10.14
• P/E Growth: N/A
• Net Income: $25 million
• Net Margins: 14.56%
• Pretax Margin: 18.39%
• Return on Equity: 10.60%
• Return on Assets: 0.78%

Debt

• Debt-to-Equity Ratio: 0.24
• Current Ratio: 0.87
• Quick Ratio: 0.87

Sales & Book Value

• Annual Sales: $137.62 million
• Price / Sales: 1.73
• Cash Flow: $5.85 per share
• Price / Cash Flow: 8.57
• Book Value: $41.34 per share
• Price / Book: 1.21

Miscellaneous

• Outstanding Shares: 4,760,000
• Free Float: 4,186,000
• Market Cap: $238.48 million
• Optionable: Not Optionable
• Beta: 0.15