Ronald M. Bentley Sells 1,028 Shares of Chemung Financial Co. (NASDAQ:CHMG) Stock

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Chemung Financial Co. (NASDAQ:CHMGGet Rating) Director Ronald M. Bentley sold 1,028 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $45.58, for a total value of $46,856.24. Following the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at $2,312,045.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Chemung Financial Stock Down 0.6 %

NASDAQ CHMG opened at $45.10 on Wednesday. The business has a fifty day moving average price of $44.58 and a 200 day moving average price of $45.68. Chemung Financial Co. has a one year low of $40.74 and a one year high of $49.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $210.80 million, a P/E ratio of 7.54 and a beta of 0.01.

Chemung Financial (NASDAQ:CHMGGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The bank reported $1.71 EPS for the quarter, beating the consensus estimate of $1.19 by $0.52. Chemung Financial had a return on equity of 13.92% and a net margin of 29.76%. Research analysts anticipate that Chemung Financial Co. will post 5.18 EPS for the current fiscal year.

Chemung Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.75%. The ex-dividend date was Thursday, June 16th. Chemung Financial’s dividend payout ratio is currently 20.74%.

Institutional Trading of Chemung Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CHMG. BHZ Capital Management LP increased its stake in shares of Chemung Financial by 38.5% in the 4th quarter. BHZ Capital Management LP now owns 7,426 shares of the bank’s stock worth $345,000 after acquiring an additional 2,065 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chemung Financial by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 90,923 shares of the bank’s stock worth $4,162,000 after acquiring an additional 1,864 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Chemung Financial in the 4th quarter worth $1,039,000. Citigroup Inc. acquired a new stake in shares of Chemung Financial in the 1st quarter worth $28,000. Finally, Tompkins Financial Corp acquired a new stake in shares of Chemung Financial in the 1st quarter worth $51,000. 36.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Chemung Financial in a research note on Sunday. They issued a “hold” rating for the company.

Chemung Financial Company Profile

(Get Rating)

Chemung Financial Corporation operates as the 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.

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