Chemung Financial (NASDAQ:CHMG) Issues Quarterly Earnings Results

Chemung Financial (NASDAQ:CHMG) posted its quarterly earnings data on Tuesday. The bank reported $1.19 EPS for the quarter, topping 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 the consensus estimate 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 0.4 %

Shares of NASDAQ:CHMG traded down $0.18 during midday trading on Thursday, hitting $47.00. The stock had a trading volume of 6,693 shares, compared to its average volume of 9,772. The company has a market cap of $223.34 million, a P/E ratio of 9.04 and a beta of 0.15. Chemung Financial has a 12 month low of $38.89 and a 12 month high of $51.36. The business’s 50-day simple moving average is $47.00 and its 200-day simple moving average is $45.16. 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Thursday, September 19th. Chemung Financial’s payout ratio is presently 23.75%.

Insiders Place Their Bets

In other news, EVP Thomas W. Wirth sold 764 shares of Chemung Financial stock in a transaction dated Tuesday, August 6th. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.04% of the company’s stock.

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.