Last $28.09 USD
Change Today +0.26 / 0.93%
Volume 97.4K
CHFC On Other Exchanges
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As of 8:10 PM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

chemical financial corp (CHFC) Snapshot

Open
$27.86
Previous Close
$27.83
Day High
$28.23
Day Low
$27.86
52 Week High
04/2/14 - $33.28
52 Week Low
10/9/13 - $26.85
Market Cap
920.2M
Average Volume 10 Days
54.8K
EPS TTM
$2.03
Shares Outstanding
32.8M
EX-Date
09/3/14
P/E TM
13.8x
Dividend
$0.96
Dividend Yield
3.31%
Current Stock Chart for CHEMICAL FINANCIAL CORP (CHFC)

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chemical financial corp (CHFC) Details

Chemical Financial Corporation operates as the financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers in Michigan. Its products and services 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, safe deposit box services, money transfer services, automated teller machines, access to insurance and investment products, corporate and personal wealth management services, and other banking services. The company also offers mutual funds, annuity products, and market securities; and operates as an issuer of title insurance to buyers and sellers of residential and commercial mortgage properties, including properties subject to loan refinancing. As of May 16, 2014, it operated through 157 banking offices located in approximately 38 counties in the lower peninsula of Michigan. The company was founded in 1973 and is headquartered in Midland, Michigan.

1,743 Employees
Last Reported Date: 02/26/14
Founded in 1973

chemical financial corp (CHFC) Top Compensated Officers

Chairman of The Board, Chief Executive Office...
Total Annual Compensation: $546.6K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $289.2K
Executive Vice President of Community Banking...
Total Annual Compensation: $300.6K
Senior Credit Officer of Chemical Bank and Ex...
Total Annual Compensation: $266.4K
First Vice President of Branch Administration...
Total Annual Compensation: $257.7K
Compensation as of Fiscal Year 2013.

chemical financial corp (CHFC) Key Developments

Chemical Bank and First Bankcard Announce Launch of the Dream MasterCard

Chemical Bank and First Bankcard announced the launch of the Dream MasterCard. The Dream MasterCard is exclusive to Chemical Bank customers in Michigan and offers generous rewards with no overlimit fees, penalty rates or late fees. The rewards program offers triple points to cardholders on qualifying gas and grocery purchases. Cardholders can also maximize their reward redemption options on travel, merchandise, gift cards, cash back and more.

Chemical Financial Corporation Declares Third Quarter 2014 Common Stock Dividend, Payable on September 19, 2014

Chemical Financial Corporation announced that the Board of Directors of the Corporation declared a third quarter 2014 cash dividend on its common stock of $0.24 per share, representing a 4.3% increase over the second quarter 2014 cash dividend of $0.23 per share and a 9.4% increase in cash dividends during the first three quarters of 2014, compared to the same time period in 2013. The third quarter 2014 cash dividend will be payable on September 19, 2014, to shareholders of record on September 5, 2014. The ex-dividend date is September 3, 2014.

Chemical Financial Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Loan Charge-Offs for the Second Quarter of 2014

Chemical Financial Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. The company has reported that net income for the second quarter ended June 30, 2014 was $16.24 million, or $0.54 per diluted share, compared to $14.20 million, or $0.51 per diluted share, for the same quarter ended June 30, 2013. Net interest income for the second quarter ended June 30, 2014 was $51.46 million, compared to $48.40 million for the same quarter ended June 30, 2013. Total interest income was $55.18 million compared to $52.78 million for the same quarter ended June 30, 2013. Return on average assets was 1.04% compared to 0.97% reported a year ago. Return on average equity was 9.1% compared to 9.4% reported a year ago. Income before income taxes was $23.34 million compared to $20.30 million reported a year ago. The resultant 6.3% increase in net interest income over the prior year's second quarter, coupled with a lower loan loss provision reflective of improved credit quality, and continued expense controls, led to an over 14% increase in net income over the prior year's second quarter. Net income increased by $2.0 million or 14.3%, higher than the second quarter of 2013, with the increase primarily attributable to a combination of higher net interest income and a lower provision for loan losses. The decrease in return on average shareholders' equity in the second quarter of 2014, compared to the second quarter of 2013, was primarily attributable to an increase in shareholders' equity resulting from the Corporation's September 2013 common equity offering. The increase in net interest income in the second quarter of 2014 over the second quarter of 2013 was largely attributable to the positive impact of loan growth of $563 million, or 13.0%, during the twelve months ended June 30, 2014. Net income for the six months ended June 30, 2014 was $30.05 million, or $1.00 per diluted share, compared to $27.44 million, or $0.99 per diluted share, for the same period ended June 30, 2013. Net interest income for the six months ended June 30, 2014 was $101.24 million, compared to $96.05 million for the same period ended June 30, 2013. Total interest income was $108.82 million compared to $105.16 million for the same period ended June 30, 2013. Return on average assets was 0.97% compared to 0.94% reported a year ago. Return on average equity was 8.6% compared to 9.2% reported a year ago. Book value per share was $24.22 compared to $22.14 as at June 30, 2013. Tangible book value per share was $20.42 compared to $17.53 as at June 30, 2013. Income before income taxes was $43.05 million compared to $39.24 million reported a year ago. Net loan charge-offs were $2.2 million in the second quarter of 2014, compared to $3.7 million in the second quarter of 2013.

 

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Industry Analysis

CHFC

Industry Average

Valuation CHFC Industry Range
Price/Earnings 13.9x
Price/Sales 3.3x
Price/Book 1.1x
Price/Cash Flow 15.3x
TEV/Sales 1.9x
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