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

Chemung Financial (NASDAQ:CHMG) posted its quarterly earnings data 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. Chemung Financial had a return on equity of 11.33% and a net margin of 16.02%. The company had revenue of $38.28 million during the quarter, compared to analysts’ expectations of $24.00 million.

Chemung Financial Price Performance

Shares of CHMG stock opened at $47.18 on Thursday. The company has a market capitalization of $224.20 million, a P/E ratio of 9.04 and a beta of 0.15. The company’s 50-day simple moving average is $47.00 and its two-hundred day simple moving average is $45.16. Chemung Financial has a one year low of $38.75 and a one year high of $51.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.87 and a quick ratio of 0.87.

Chemung Financial Announces Dividend

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

Insider Activity

In other Chemung Financial news, EVP Thomas W. Wirth sold 764 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.40, for a total transaction of $33,921.60. Following the transaction, the executive vice president now directly owns 3,926 shares in the company, valued at $174,314.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.04% of the company’s stock.

Chemung Financial Company Profile

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.