Short Interest Alert: Chemical Financial Corporation (NASDAQ:CHFC)’s Trend Up, Especially After Decreased Shorts

November 29, 2016 - By Ruchi Gupta   ·   0 Comments

Short Interest Alert: Chemical Financial Corporation (NASDAQ:CHFC)’s Trend Up, Especially After Decreased Shorts

The stock of Chemical Financial Corporation (NASDAQ:CHFC) registered a decrease of 8.26% in short interest. CHFC’s total short interest was 1.87 million shares in November as published by FINRA. Its down 8.26% from 2.04M shares, reported previously. With 297,600 shares average volume, it will take short sellers 6 days to cover their CHFC’s short positions. The short interest to Chemical Financial Corporation’s float is 4.98%. About 36,263 shares traded hands. Chemical Financial Corporation (NASDAQ:CHFC) has risen 32.92% since April 26, 2016 and is uptrending. It has outperformed by 27.66% the S&P500.

Chemical Financial Corporation is a financial holding company. The company has a market cap of $3.59 billion. The Firm operates in the commercial banking segment. It has a 26.69 P/E ratio. The Company, through its subsidiary bank, Chemical Bank, offers banking and fiduciary services and products.

Insitutional Activity: The institutional sentiment increased to 3.41 in Q2 2016. Its up 2.27, from 1.14 in 2016Q1. The ratio improved, as 13 funds sold all Chemical Financial Corporation shares owned while 51 reduced positions. 19 funds bought stakes while 54 increased positions. They now own 26.80 million shares or 1.63% more from 26.37 million shares in 2016Q1.
Jacobs Levy Equity Management Inc reported 16,420 shares or 0.01% of all its holdings. The New York-based Jpmorgan Chase Co has invested 0% in Chemical Financial Corporation (NASDAQ:CHFC). Piermont Management accumulated 83,251 shares or 0.8% of the stock. The New York-based Goldman Sachs Grp Incorporated Inc has invested 0% in Chemical Financial Corporation (NASDAQ:CHFC). Moreover, Cubist Systematic Strategies Ltd Liability Company has 0.01% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 5,643 shares. Dimensional Fund Advisors Lp owns 2.54 million shares or 0.05% of their US portfolio. Chicago Equity Limited Liability Corp accumulated 23,680 shares or 0.03% of the stock. Airain, a Guernsey-based fund reported 14,959 shares. Krasney Fincl last reported 147,874 shares in the company. Tiaa Cref Mgmt reported 178,259 shares or 0.01% of all its holdings. Moreover, Citadel Advisors Ltd Liability has 0.01% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 125,234 shares. Moreover, Manufacturers Life Communications The has 0% invested in Chemical Financial Corporation (NASDAQ:CHFC) for 81,619 shares. Voya Inv Mngmt Limited Liability Company has 0% invested in the company for 16,708 shares. The New York-based Quantbot Techs L P has invested 0% in Chemical Financial Corporation (NASDAQ:CHFC). Quantitative Systematic Strategies Limited Liability Corp reported 26,141 shares or 0.45% of all its holdings.

Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 13 selling transactions for $36.67 million net activity. Shares for $25,540 were sold by GWIZDALA LORI A. SHAFER THOMAS C sold 34,456 shares worth $1.56 million. 279,101 Chemical Financial Corporation (NASDAQ:CHFC) shares with value of $12.63M were sold by Provost David T. TORGOW GARY sold $12.72 million worth of stock or 281,073 shares. KLEIN RONALD A had sold 16,758 shares worth $758,192 on Wednesday, August 31. Another trade for 4,500 shares valued at $198,153 was made by Lievense Richard M. on Monday, August 15. 49,785 shares were sold by KLAESER DENNIS L, worth $2.25M.

Chemical Financial Corporation (NASDAQ:CHFC) Ratings Coverage

Out of 4 analysts covering Chemical Financial (NASDAQ:CHFC), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Chemical Financial has been the topic of 4 analyst reports since January 27, 2016 according to StockzIntelligence Inc. Keefe Bruyette & Woods upgraded it to “Outperform” rating and $39 target price in Wednesday, January 27 report. Sandler O’Neill upgraded Chemical Financial Corporation (NASDAQ:CHFC) on Thursday, January 28 to “Buy” rating. The stock has “Outperform” rating given by FIG Partners on Friday, January 29. The stock of Chemical Financial Corporation (NASDAQ:CHFC) earned “Strong Buy” rating by Raymond James on Wednesday, March 2.

CHFC Company Profile

Chemical Financial Corporation (Corporation), incorporated on August 27, 1973, is a financial holding company. The Firm operates in the commercial banking segment. The Company, through its subsidiary bank, Chemical Bank, offers a range of banking and fiduciary services and products. The Company’s services and products include business and personal checking accounts, savings and individual retirement accounts, time deposit instruments, electronically accessed banking products, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, access to insurance and investment products, corporate and personal wealth management services, and other banking services. It operates through an internal organizational structure of over four regional banking units. The Chemical Bank serves the markets through approximately 185 banking offices located in approximately 50 counties across Michigan’s Lower Peninsula. In addition to its banking offices, Chemical Bank operates over three loan production offices and approximately 200 automated teller machines, both on- and off-bank premises.

More news for Chemical Financial Corporation (NASDAQ:CHFC) were recently published by: Mlive.com, which released: “Chemical Financial Corp. announces Q1 2016 cash dividend” on January 20, 2016. Globenewswire.com‘s article titled: “Chemical Financial Corporation Announces Third Quarter 2016 Earnings …” and published on October 17, 2016 is yet another important article.

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By Ruchi Gupta


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