Factors Likely to Have Influenced Earnings Results Chemung Financial (NASDAQ:CHMG)

Earnings results for Chemung Financial (NASDAQ:CHMG)

Chemung Financial Corp is estimated to report earnings on 07/19/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.17. The reported EPS for the same quarter last year was $1.2.

Chemung Financial last announced its earnings results on April 21st, 2021. The bank reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.13. The business had revenue of $21.41 million for the quarter, compared to analysts’ expectations of $21.64 million. Chemung Financial has generated $4.01 earnings per share over the last year and currently has a price-to-earnings ratio of 8.9. Chemung Financial has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Monday, July 19th, 2021 based off prior year’s report dates.

Analyst Opinion on Chemung Financial (NASDAQ:CHMG)

1 Wall Street analysts have issued ratings and price targets for Chemung Financial in the last 12 months. Their average twelve-month price target is $37.00, predicting that the stock has a possible downside of 15.39%. The high price target for CHMG is $37.00 and the low price target for CHMG is $37.00. There are currently 1 hold rating for the stock, resulting in a consensus rating of “Hold.”

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. According to analysts’ consensus price target of $37.00, Chemung Financial has a forecasted downside of 15.4% from its current price of $43.73. Chemung Financial has received no research coverage in the past 90 days.

Dividend Strength: Chemung Financial (NASDAQ:CHMG)

Chemung Financial pays a meaningful dividend of 2.84%, higher than the bottom 25% of all stocks that pay dividends. Chemung Financial has only been increasing its dividend for 1 years. The dividend payout ratio of Chemung Financial is 30.92%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Chemung Financial will have a dividend payout ratio of 29.25% next year. This indicates that Chemung Financial will be able to sustain or increase its dividend.

Insiders buying/selling: Chemung Financial (NASDAQ:CHMG)

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 $645,815.00 in company stock. Only 19.04% of the stock of Chemung Financial is held by insiders. 36.32% of the stock of Chemung Financial is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Chemung Financial (NASDAQ:CHMG

Earnings for Chemung Financial are expected to decrease by -9.21% in the coming year, from $4.67 to $4.24 per share. The P/E ratio of Chemung Financial is 8.94, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 20.86. The P/E ratio of Chemung Financial is 8.94, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 16.68. Chemung Financial has a P/B Ratio of 1.02. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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