Short Interest Coverage: Will Chemung Financial Corporation (NASDAQ:CHMG) Run Out of Steam Soon? Short Interest Is Down

November 29, 2016 - By Vivian Park   ·   0 Comments

Short Interest Coverage: Will Chemung Financial Corporation (NASDAQ:CHMG) Run Out of Steam Soon? Short Interest Is Down

The stock of Chemung Financial Corporation (NASDAQ:CHMG) registered a decrease of 0.13% in short interest. CHMG’s total short interest was 75,600 shares in November as published by FINRA. Its down 0.13% from 75,700 shares, reported previously. With 2,500 shares average volume, it will take short sellers 30 days to cover their CHMG’s short positions. The short interest to Chemung Financial Corporation’s float is 2.86%. About 1,518 shares traded hands. Chemung Financial Corp. (NASDAQ:CHMG) has risen 17.78% since April 26, 2016 and is uptrending. It has outperformed by 12.52% the S&P500.

Chemung Financial Corporation is a bank holding company. The company has a market cap of $148.44 million. The Company, through its subsidiaries, Chemung Canal Trust Company and CFS Group, Inc. (CFS), provides a range of banking, financing, fiduciary and other financial services to its clients. It has a 16.52 P/E ratio. The Firm manages its activities through two divisions: core banking and Wealth Management Group (WMG).

Insitutional Activity: The institutional sentiment decreased to 1.38 in Q2 2016. Its down 0.95, from 2.33 in 2016Q1. The ratio turned negative, as 7 funds sold all Chemung Financial Corp. shares owned while 5 reduced positions. 18 funds bought stakes while 10 increased positions. They now own 1.15 million shares or 12.67% more from 1.02 million shares in 2016Q1.
Amer Int Group Inc Inc Inc has 1,808 shares for 0% of their US portfolio. Teachers Advisors Incorporated holds 0% or 4,926 shares in its portfolio. Renaissance Techs Limited Liability holds 0% or 26,674 shares in its portfolio. Private Advisor Gp Ltd Limited Liability Company reported 7,370 shares or 0.01% of all its holdings. Chemung Canal Trust last reported 454,841 shares in the company. Lsv Asset Management accumulated 0% or 2,300 shares. Royal Fincl Bank Of Canada owns 763 shares or 0% of their US portfolio. Blackrock Inc has 0% invested in the company for 453 shares. Vanguard Group Inc has invested 0% of its portfolio in Chemung Financial Corp. (NASDAQ:CHMG). Nationwide Fund has 0% invested in the company for 1,877 shares. Blackrock Institutional Tru Com Na accumulated 0% or 20,965 shares. John G Ullman Assocs has invested 0.87% of its portfolio in Chemung Financial Corp. (NASDAQ:CHMG). California State Teachers Retirement, a California-based fund reported 6,585 shares. New York State Common Retirement Fund accumulated 3,400 shares or 0% of the stock. Hutchin Hill Cap L P holds 42,607 shares or 0.04% of its portfolio.

Insider Transactions: Since October 25, 2016, the stock had 5 buys, and 2 selling transactions for $49,397 net activity. $69,901 worth of Chemung Financial Corp. (NASDAQ:CHMG) shares were bought by DALRYMPLE DAVID J. 1,500 shares with value of $46,500 were sold by Makowski Karen R on Wednesday, November 16. Shares for $6,492 were bought by Tranter G. Thomas Jr.. Wirth Thomas W had sold 606 shares worth $16,973 on Tuesday, October 25. Another trade for 500 shares valued at $14,399 was made by Tully Kevin B on Tuesday, October 25.

CHMG Company Profile

Chemung Financial Corporation, incorporated on January 2, 1985, is a bank holding company. The Company, through its subsidiaries, Chemung Canal Trust Company (the Bank) and CFS Group, Inc. (CFS), provides a range of banking, financing, fiduciary and other financial services to its clients. The Firm manages its activities through two divisions: core banking and Wealth Management Group (WMG). The core banking segment receives deposits from the general public and uses such funds to originate consumer, commercial, commercial real estate and residential mortgage loans, mainly in its local markets and to invest in securities. The WMG services segment provides trust and investment advisory services to clients. The Company’s financial services include demand, savings and time deposits, commercial, residential and consumer loans, interest rate swaps, letters of credit, wealth management services, employee benefit plans, insurance products, mutual funds and brokerage services. The Bank operates approximately 30 branch offices located in over 10 counties in New York and Bradford County in Pennsylvania. The Bank also operates under the name of its division, Capital Bank, with branch offices located in Albany and Saratoga counties in New York. The Bank provides wealth management services as executor and trustee under wills and agreements, and guardian, custodian, trustee and agent for pension, profit-sharing and other employee benefit trusts, as well as various investment, pension, estate planning and employee benefit administrative services.

Another recent and important Chemung Financial Corp. (NASDAQ:CHMG) news was published by Stargazette.com which published an article titled: “Chemung Financial Corp. reports improved earnings” on October 21, 2016.

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By Vivian Park

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