Chemung Financial Co. (NASDAQ:CHMG) EVP Sells 1,000 Shares

Chemung Financial Co. (NASDAQ:CHMG) EVP Loren D. Cole sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $51.21, for a total value of $51,210.00. Following the transaction, the executive vice president now owns 4,771 shares in the company, valued at $244,322.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Chemung Financial Stock Down 2.7 %

NASDAQ:CHMG opened at $49.83 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $47.42 and its two-hundred day moving average is $45.71. Chemung Financial Co. has a 52 week low of $39.00 and a 52 week high of $51.72. The stock has a market capitalization of $237.19 million, a price-to-earnings ratio of 11.02 and a beta of 0.15.

Chemung Financial (NASDAQ:CHMG) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.19 earnings per share (EPS) 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 analysts’ expectations of $24.00 million. Chemung Financial had a return on equity of 10.91% and a net margin of 14.56%. Research analysts anticipate 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 Tuesday, October 1st. Investors of record on Thursday, September 19th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, September 19th. Chemung Financial’s dividend payout ratio (DPR) is presently 27.43%.

Hedge Funds Weigh In On Chemung Financial

Several large investors have recently bought and sold shares of the business. Bright Futures Wealth Management LLC. purchased a new position in shares of Chemung Financial during the second quarter worth about $200,000. Bank of New York Mellon Corp grew its holdings in shares of Chemung Financial by 3.5% during the second 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 during the last quarter. Empowered Funds LLC grew its holdings 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 worth $796,000 after purchasing an additional 1,400 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Chemung Financial by 8.7% during the first 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 during the last quarter. Finally, Renaissance Technologies LLC grew 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 last quarter. Hedge funds and other institutional investors 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.