June 16, 2024

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Zacks Expense Investigate Downgrades Chemung Monetary (NASDAQ:CHMG) to Keep

3 min read

Zacks Expenditure Investigation lowered shares of Chemung Monetary (NASDAQ:CHMG) from a get rating to a hold score in a report issued on Tuesday morning, Zacks.com stories.

According to Zacks, “CHEMUNG Monetary CORP. is a financial institution keeping business, engaged thru the lender in complete-assistance business and client banking and have confidence in company. “

A variety of other equities research analysts have also lately issued reviews on CHMG. TheStreet lifted shares of Chemung Economical from a c+ rating to a b score in a investigate take note on Friday, Oct 23rd. DA Davidson lower shares of Chemung Economical from a acquire rating to a neutral rating and upped their selling price aim for the organization from $32.00 to $37.00 in a study take note on Thursday, Oct 22nd. Eventually, ValuEngine raised shares of Chemung Economic from a robust promote rating to a sell rating in a investigate notice on Tuesday, December 1st.

Shares of NASDAQ:CHMG opened at $33.65 on Tuesday. The company’s fifty day relocating regular price is $34.90 and its 200-working day going common rate is $30.74. The agency has a sector capitalization of $156.71 million, a price tag-to-earnings ratio of 8.93 and a beta of .06. Chemung Financial has a just one calendar year small of $21.75 and a a single 12 months superior of $44.23. The company has a personal debt-to-fairness ratio of .02, a recent ratio of .87 and a brief ratio of .87.

Chemung Financial (NASDAQ:CHMG) very last issued its quarterly earnings effects on Monday, October 19th. The lender documented $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $.67 by $.52. Chemung Economic had a web margin of 21.06% and a return on fairness of 9.54%. The organization had revenue of $21.21 million for the quarter, as opposed to analyst estimates of $20.20 million. As a team, equities exploration analysts expect that Chemung Monetary will write-up 3.93 EPS for the recent 12 months.

A quantity of institutional investors and hedge funds have just lately designed modifications to their positions in CHMG. Morgan Stanley boosted its placement in Chemung Fiscal by 106.6% during the 3rd quarter. Morgan Stanley now owns 38,527 shares of the bank’s inventory valued at $1,112,000 just after getting an supplemental 19,877 shares in the course of the time period. QCI Asset Administration Inc. NY bought a new stake in Chemung Monetary in the course of the 3rd quarter valued at $419,000. Janney Montgomery Scott LLC obtained a new stake in Chemung Economical all through the 3rd quarter valued at $322,000. Marshall Wace LLP procured a new stake in Chemung Economic all through the 1st quarter valued at $185,000. At last, Nuveen Asset Management LLC boosted its position in Chemung Money by 41.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,725 shares of the bank’s stock valued at $265,000 right after acquiring an more 2,831 shares during the interval. 34.94% of the stock is owned by institutional buyers and hedge resources.

Chemung Economic Firm Profile

Chemung Economical Corporation operates as the keeping business for Chemung Canal Believe in Corporation that provides a vary of banking, financing, fiduciary, and other monetary providers. The company presents demand, financial savings, and time deposits non-fascination and interest-bearing examining accounts and insured cash sector accounts.

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