Chemung Financial (NASDAQ:CHMG) Releases Earnings Results, Beats Expectations By $0.06 EPS

Chemung Financial (NASDAQ:CHMG) announced its earnings results on Tuesday. The bank reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06, Yahoo Finance reports. The company had revenue of $38.28 million during the quarter, compared to analysts’ expectations of $24.00 million. Chemung Financial had a net margin of 16.02% and a return on equity of 11.33%.

Chemung Financial Stock Down 0.0 %

CHMG stock opened at $47.18 on Thursday. The company has a market cap of $224.20 million, a PE ratio of 9.04 and a beta of 0.15. The business has a 50-day simple moving average of $47.00 and a 200 day simple moving average of $45.16. Chemung Financial has a 52 week low of $38.75 and a 52 week high of $51.36. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.42.

Chemung Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, September 19th. Chemung Financial’s dividend payout ratio (DPR) is presently 23.75%.

Insider Activity at Chemung Financial

In related news, EVP Thomas W. Wirth sold 764 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.40, for a total value of $33,921.60. Following the completion of the transaction, the executive vice president now owns 3,926 shares of the company’s stock, valued at $174,314.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.04% of the stock is owned by insiders.

About Chemung Financial

Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.